Kone Acquires TK Elevator in Historic €29.4 Billion Merger
Finnish lift manufacturer Kone has announced a transformative acquisition of German competitor TK Elevator for €29.4 billion, creating the world's largest elevator and escalator company by a significant margin. This landmark deal represents one of the most substantial industrial consolidations in recent years and reshapes the global vertical transportation sector fundamentally.
The combined entity will command unprecedented market dominance, controlling approximately one-third of the worldwide elevator market. Kone's strategic decision to acquire TK Elevator demonstrates management's commitment to achieving operational scale and expanding its global footprint across both developed and emerging markets.
