Munich \u2014 The Finnish eleva\u00adtor manu\u00adfac\u00adtu\u00adrer Kone is taking over its German compe\u00adti\u00adtor TK Eleva\u00adtor. The finan\u00adcial inves\u00adtors Advent and Cinven are recei\u00adving five billion euros in cash and Kone shares worth 15.2 billion euros for the company. The tran\u00adsac\u00adtion implies an enter\u00adprise value of 29.4 billion euros inclu\u00adding debt. This makes the tran\u00adsac\u00adtion the largest majo\u00adrity spon\u00adsor-led private equity tran\u00adsac\u00adtion in Europe to date. <\/p>\n
The combi\u00adned company would gene\u00adrate annual sales of around EUR 20.5 billion, of which around 65% would come from service and moder\u00adniza\u00adtion, achieve an adjus\u00adted EBIT of more than EUR 2.7 billion (exclu\u00adding syner\u00adgies) and have a main\u00adten\u00adance port\u00adfo\u00adlio of around 3.2 million units.<\/p>\n
Kirk\u00adland & Ellis<\/strong> has advi\u00adsed Advent and Cinven on the comple\u00adtion of an agree\u00adment to combine TK Eleva\u00adtor (\u201cTKE\u201d) and KONE in a tran\u00adsac\u00adtion invol\u00adving cash and KONE shares as consideration.<\/p>\n TKE is a global leader in the field of verti\u00adcal trans\u00adpor\u00adta\u00adtion and urban mobi\u00adlity. The company has around 50,000 employees and over 1,000 loca\u00adti\u00adons world\u00adwide. TKE became inde\u00adpen\u00addent after the spin-off from Thys\u00adsen\u00adkrupp AG in 2020. KONE is a global leader in the eleva\u00adtor and escala\u00adtor indus\u00adtry with more than 60,000 employees in around 70 count\u00adries. KONE\u2019s Class B shares are listed on Nasdaq Helsinki Ltd. in Finland. <\/p>\n Advi\u00adsors to Advent and Cinven: Kirk\u00adland & Ellis, Munich<\/strong><\/p>\n Prof. Dr. Benja\u00admin Leyen\u00adde\u00adcker <\/strong>(photo \u00a9 Kirk\u00adland), Dr. Philip Goj (both lead, both Private Equity\/M&A), Dr. Michael Ehret (Tax); Asso\u00adcia\u00adtes: Dr. Marcus Comman\u00addeur, Dr. Fried\u00adrich Focke, Fabian Water\u00adh\u00f6l\u00adter, Lisa M\u00fcller, Dr. Sabrina Seitz, Chiara Schmid (all Private Equity\/M&A), Emma\u00adnuel G\u00f6tz (Tax) About Kirk\u00adland Munich \u2014 The Finnish eleva\u00adtor manu\u00adfac\u00adtu\u00adrer Kone is taking over its German compe\u00adti\u00adtor TK Eleva\u00adtor. The finan\u00adcial inves\u00adtors Advent and Cinven are recei\u00adving five billion euros in cash and Kone shares worth 15.2 billion euros for the company. The tran\u00adsac\u00adtion implies an enter\u00adprise value of 29.4 billion euros inclu\u00adding debt. This makes the tran\u00adsac\u00adtion the [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":60232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[1366],"tags":[],"class_list":["post-60234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"yoast_head":"\n
\nKirk\u00adland & Ellis, London:<\/strong>
\nAdrian Maguire, Dan Clarke (both Private Equity\/M&A), Antoine Lebi\u00aden\u00advenu (Capi\u00adtal Markets), Chris\u00adto\u00adpher Shield, Thomas Raftery (both Debt Finance), Mavnick Nerwal, Sivanti Deva\u00adku\u00admar (both Tax), Andr\u00e9 Duminy (Tech\u00adno\u00adlogy & IP Tran\u00adsac\u00adtions); Asso\u00adcia\u00adtes: Charles H\u00e9bert, Bene\u00addict Wilson, Saniya Sidhu, Albert Planella i Obach (all Private Equity\/M&A), Aram Vale\u00adsyan, Aman Nath, Zoe O\u2019Log\u00adbon (all Debt Finance), Ellen Ronayne (Tax), Asmita Singhvi (Tech\u00adno\u00adlogy & IP Transactions)<\/p>\n
\n<\/strong>
\n With more than 4,000 lawy\u00aders in 23 cities in the USA, Europe, the Middle East and Asia, Kirk\u00adland & Ellis is one of the leading law firms for high-cali\u00adber legal services. The German team specia\u00adli\u00adzes in private equity, M&A, restruc\u00adtu\u00adring, corpo\u00adrate and capi\u00adtal markets, finan\u00adcing and tax. For more infor\u00adma\u00adtion, please visit kirkland.com.<\/p>\n","protected":false},"excerpt":{"rendered":"