TKE Owners Select Financial Advisors for Planned IPO

Advent International and Cinven, owners of TK Elevator (TKE) — formerly part of ThyssenKrupp AG — have selected Rothschild & Co. and Lilja & Co. as independent financial advisors for a planned initial public offering (IPO) that could become one of Europe’s largest listings in years, outlets including Bloomberg report, citing sources familiar with the matter. Advent and Cinven are considering listing TKE on a European exchange, with Frankfurt, Germany, a contender. They have also explored a potential U.S. listing. Advent and Cinven plan to select global IPO coordinators at a later date. The IPO could take place in 2026.