ThyssenKrupp Elevator acquires US-based Edmonds Elevator

German conglomerate ThyssenKrupp AG yesterday said that ThyssenKrupp Elevator has acquired privately held US-based Edmonds Elevator.

The Essen-based company did not disclose financial details of the transaction.

Founded in 1875, Cleveland, Ohio-based Edmonds Elevator, provides elevator maintenance, repair and modernisation services and has about 700 facilities under maintenance.

ThyssenKrupp Elevator has been buying established small and medium-size elevator companies in the US for several years, including United Elevator Company in Philadelphia and General Elevator in Orlando, in order to expand its technology business.

''The acquisition continues our international growth strategy and strengthens our service business in the US,'' said Andreas Schierenbeck, CEO of ThyssenKrupp Elevator.

''Edmonds Elevator has an excellent reputation with its customers. Its strong local presence provides a solid platform from which to intensify our activities in the region in the future,'' he added.

With sales of €5.7 billion in 2012 and customers in 150 countries, ThyssenKrupp Elevator is one of the world's leading elevator companies.

The company has more than 47,000 highly skilled employees and its portfolio includes passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as tailored service solutions for all products.