Saturday, April 25, 2015

ThyssenKrupp buys Phila.'s United Elevator

The German industrial conglomerate acquired a 51-year-old elevator maintenance and service provider focused on the Philadelphia region.

ThyssenKrupp buys Phila.'s United Elevator

Germany's ThyssenKrupp Elevator said it has acquired Philadelphia-based United Elevator Co., a regional maintenance and repair company, for an undisclosed price.

United Elevator's website indicates the company was founded in 1960 by Leonard Krouse and Leonard Day. Some of the larger buildings it services are the Rittenhouse Hotel, an office building at 123 S. Broad St., Abington Memorial Hospital and Albert Einstein Medical Center.

It's the second such acquisition by ThyssenKrupp recently. In mid-September, the company bought General Elevator Sales & Service in Florida.

For the nine months ended June 30, ThyssenKrupp reported global sales of 3.86 million euros (or $5.1 billion) and 45,603 employees for its elevator technology business unit.

Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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