thyssenkrupp Elevator Canada Acquires Winnipeg Elevator Group

Advent International and Cinven Acquire thyssenkrupp Elevator from thyssenkrupp AG

July 31, 2020

Manufacturing

Advent International and Cinven have completed the acquisition of thyssenkrupp's Elevator Technology business (thyssenkrupp Elevator) from thyssenkrupp AG, with thyssenkrupp AG retaining a substantial minority stake. The global elevator and escalator manufacturer and service provider is headquartered in Germany and will pursue growth through geographic expansion, strategic acquisitions, and investment in R&D backed by the Consortium's financial resources.

American Elevator Group Acquires Mid‑America Elevator

January 1, 2026

Industrial Services

American Elevator Group (AEG) has merged with Mid‑America Elevator, a long‑standing Indianapolis-based provider of elevator maintenance, repair and modernization services. Maven Group advised Mid‑America; terms were not disclosed. The transaction brings Mid‑America into AEG’s national platform to expand capabilities, access advanced technologies and accelerate growth in Indiana while preserving local leadership and the Mid‑America brand.

American Elevator Group Acquires Port Elevator

June 1, 2022

Building Products

American Elevator Group (AEG) has acquired Pennsylvania-based Port Elevator, adding the Williamsport- and Harrisburg-area service provider to AEG's growing portfolio of regional elevator service businesses. The deal expands AEG's footprint in central Pennsylvania and increases the group's nationwide service coverage as an add-on to its existing platform.

Cibes Lift Group Acquires Elevator Service Company

October 31, 2023

Building Products

Swedish lift manufacturer Cibes Lift Group has acquired Elevator Service Company, Inc., a Torrington, Connecticut-based provider of home lifts, platform lifts and elevator maintenance and modernization services. The acquisition gives Cibes a stronger U.S. presence and retains Elevator Service Company as a wholly owned subsidiary under new management.

Champion Elevator Acquires Westech Elevator

October 8, 2020

HVAC & Mechanical

Champion Elevator has acquired New York-based Westech Elevator, a provider of elevator service, repair, modernization and inspections. The deal — which brings Westech’s ~40 employees and 775 units under Champion’s footprint — supports Champion’s New York geographic expansion and strengthens its service capabilities for building owners and facility managers.

TK Elevator Canada Acquires Bay Elevator, Direct Elevator and True Canadian Elevator Maintenance Company

May 26, 2021

Engineering Services

TK Elevator Canada has acquired three Ontario-based elevator service and modernization companies: Bay Elevator, Direct Elevator and True Canadian Elevator Maintenance Company. The acquisitions add more than 100 employees and local leadership to TK Elevator Canada's service footprint in Ontario, strengthening its modernization, service and repair capabilities across the province.