• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • PIPEs

Advent et al. bid for ThyssenKrupp elevators division

  • Katharine Hidalgo
  • Katharine Hidalgo
  • 17 September 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Advent International, Cinven and the Abu Dhabi Investment Authority (Adia) have joined forces to make a bid for ThyssenKrupp's elevator division, Unquote understands.

Two trade buyers – Finland-based lift manufacturer Kone and Japan-based industrials group Hitachi – are also likely to join the bidding process, while EQT has withdrawn from bidding, according to a report by the Financial Times.

The report also mentions the Carlyle Group, CVC, KKR and Blackstone Group are interested in the unit.

Earlier this year, ThyssenKrupp attempted to merge its steel division with Tata Steel's European division before the deal was blocked by the European competition authority. The company later considered a partial flotation for its elevators business, which would have been worth an estimated €14bn. However, the company has opted for a formal auction, confirming a report from Reuters in early September.

The elevator technology unit reported €5.8bn in net sales between October 2018 and June 2019, up from €5.5bn in the same period in the previous year. The division generated an adjusted EBIT of €642m in the latest financial year, up from €641m the previous year. The division employed 53,010 people as of June 2019.

At the time of publication, ThyssenKrupp was trading at €12.80 a share.

Advent and Cinven declined to comment.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • PIPEs
  • DACH
  • Industrials
  • Advent International
  • Cinven
  • Blackstone Group
  • Carlyle Group
  • CVC Capital Partners
  • KKR
  • Germany
  • Take Private

More on PIPEs

Liad Meidar of Gatemore Capital Management
Gatemore eyes larger stakes in listed SMEs as path to take-privates

With its first closed-end fund in the making, the activist investor will use larger stakes to drive value creation and direct small-cap targets towards PE sales

  • GPs
  • 11 January 2023
Electric cars and fuelling stations
Allego to go public via merger with Apollo-sponsored Spac

Transaction values Allego at a pro forma equity value of USD 3.14bn, including a USD 150m PIPE

  • PIPEs
  • 29 July 2021
Retail delivery services and logistics
Permira makes EUR 1.9bn investment in Adevinta

Deal will see eBay decrease its stake in Adevinta as part of the acquisition of eBay Classifieds

  • PIPEs
  • 14 July 2021
Food production lines and packaging machines
Apollo makes first deal from Impact strategy

Apollo will launch a take-private bid for the recycled cardboard producer on completion of the deal

  • PIPEs
  • 05 July 2021

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013