TK Elevator’s Canadian affiliate has acquired Bay Elevator, Direct Elevator and True Canadian Elevator Maintenance Company, all Ontario-based elevator modernization, service and repair companies. No financial terms were disclosed. Germany’s TK Elevator was acquired last year by a consortium led by Advent International and Cinven.
Düsseldorf/Toronto (May 26, 2021) – TK Elevator Canada has acquired three companies that specialize in elevator modernization, service and repair in Ontario – Bay Elevator, Direct Elevator and True Canadian Elevator Maintenance Company. More than 100 employees from the three companies will join TK Elevator Canada, the leading vertical transportation company in Canada.
“Our commitment to providing the highest level of service is unparalleled in our industry and is a key reason TK Elevator is the most trusted elevator company in Canada. That commitment includes evaluating key partnerships and acquisitions that make our organization stronger,” says Blaine Coupal, President and CEO, TK Elevator Canada. “Bay Elevator, Direct Elevator and True Canadian share our commitment to top-notch service and modernization solutions, and the leadership from these three companies – along with their experienced workforce – will add depth to our current organization as well as strengthen our support for our new and existing customers.”
Last year, TK Elevator Canada addressed a key service challenge by transforming its Engineering Center in Scarborough into the International Technical Services Centre in order to expand its ability to maintain and service competitor units. Today, this is the only facility of its kind in Canada, and TK Elevator Canada invested millions in upgrading. Now, the revamped ITS Centre enhances those services by adding frontline field engineering phone and onsite support, specialized support services, additional technical training and documentation, diagnostic and specialty tools, board and drive repair, as well as new product support and collaboration. ITS will also provide the same services for competitors’ elevators and escalators.
Also, in 2020, TK Elevator expanded its service and modernization footprint in Winnipeg when it purchased Winnipeg Elevator Group.
Across North America, TK Elevator has been acquiring key service partners and companies as part of its strategic approach to enhancing its service portfolio and personnel. That includes a variety of U.S. acquisitions, including Albany Elevator in 2021, Braun ThyssenKrupp in 2020, and O’Keefe Elevator and Nashville Machine Elevator in 2019.
“Our recent acquisitions in North America and the upgrades made to the ITS Centre reinforce the significant commitment we are making to our customers to provide the highest level of service possible,” says Kevin Lavallee, President and CEO, TK Elevator North America and Australia. “The future is very bright for TK Elevator in North America, and we will continue to explore ways we can continue to lead the elevator industry into a safer tomorrow.”
TK Elevator (formerly: thyssenkrupp Elevator)
With customers in over 100 countries served by 50,000 employees, TK Elevator achieved sales of around €8 billion in the fiscal year 2019/2020. Over 1,000 locations around the world provide an extensive network that guarantees closeness to customers. Over the past decades, TK Elevator has established itself as one of the world’s leading elevator companies and became independent since its sale by thyssenkrupp AG in August 2020. The company’s most important business line is the service business represented by over 24,000 service technicians. The product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and moving walks, passenger boarding bridges, stair and platform lifts. Integrated cloud-based service solutions, such as the MAX platform, are gaining in importance. With these digital offerings, there are no limits to urban mobility anymore. TKE – move beyond.