19 July 2024

Innovalift acquires lift component manufacturer Arkel, Türkiye

This week Innovalift signed an agreement to acquire 100 per cent of the shares in Arkel based in Istanbul, Türkiye to expand its geographic reach and complement its product portfolio of components for elevators.

Arkel is a leading Turkish manufacturer of components for elevators, for both new installations and the growing modernization segment. The company, founded in 1998, manufactures and sells complete control systems, integrated drive units and a broad range of related electronic components for elevators. Net sales amounts to approximately EUR 62 m (pro-forma), of which Türkiye, continental Europe, and India are the key markets. Arkel employs about 410 colleagues.

"We are happy to welcome Arkel into the Innovalift family. Through this acquisition, we significantly strengthen Innovalift’s position within control systems and related elevator components, while we also get access to new geographic markets. We look forward to collaborating with all employees and to be growing and developing the company further”, says Andrea Veggian, CEO of Innovalift.

"I am confident that Arkel will benefit from being a part of the Innovalift family, and the resulting collaboration across the companies. I am certain that this will benefit all our customers and employees”, says Cenk Ceylan, CEO of Arkel.

"We are honored and happy to hand over Arkel to Innovalift, and look forward to be following the company’s continued development”, says current owners Mehmet Melih Küçükçalık, co-founder of Arkel, and Cenk Coskunturk, Partner at Mediterra Capital.

The acquisition is subject to competition clearance approval by authorities in Türkiye.

We are looking forward having Arkel as a new family member.