Mitsubishi Electric Acquires AG MELCO Elevator
November 21, 2025
Mitsubishi Electric Corporation has completed the acquisition of all shares of AG MELCO Elevator Co. L.L.C., a Dubai-based elevator company, from Rawafed Almustaqbal Group L.L.C., a subsidiary of Al Ghurair Investment L.L.C. The transaction makes AG MELCO a wholly owned Mitsubishi Electric subsidiary and is intended to strengthen Mitsubishi's elevator maintenance and renewal operations in the Middle East and support its global building systems business.
- Buyers
- Mitsubishi Electric Corporation, Mitsubishi Electric Building Solutions Corporation
- Targets
- AG MELCO Elevator Co. L.L.C.
- Sellers
- Rawafed Almustaqbal Group L.L.C., Al Ghurair Investment L.L.C.
- Industry
- Industrial Services
- Location
- Dubai, United Arab Emirates
- Transaction Type
- Buyout
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