TK Elevator acquires Nordic Lift

TK Elevator is expanding its presence in Sweden. The company will acquire Nordic Lift from the Pegroco Invest Group.

With approximately 9,000 units in its maintenance portfolio in Sweden, Nordic Lift is ranked as one of the top players in the lift industry in Sweden. The company consists of various operative companies which all have prominent positions in their respective regions, according to the press release of TK Elevator.

Expand TK Elevator’s market position

Ever since Pegroco Invest first acquired the business in 2016, Nordic Lift has continuously grown, both organically and through further acquisitions. The business model of Nordic Lift focuses on the full product life cycle from new installations and modernization to the service and maintenance of lifts. In addition to lifts, the company’s product portfolio includes the distribution of stair lifts and other home mobility solutions.

Following TK Elevator’s earlier acquisition of Sdiptech’s lift operations in 2021, Nordic Lift will significantly expand TK Elevator’s market position and service network in Sweden. The transaction is subject to the approval of the Swedish Competition Authority.

More information: tkelevator.com