23 January 2025
Innovalift completes acquisition of Arkel
On July 19th, 2024, Innovalift AB (wholly owned subsidiary of Investment AB Latour) signed an agreement to acquire Arkel based in based in Istanbul, Türkiye to expand our geographic reach and complement our product portfolio of components for elevators. All closing conditions have now been fulfilled, and the transaction was closed on January 23rd, 2025.
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 (proforma 2023), of which Türkiye, continental Europe, and India are the key markets. Arkel employs about 410 colleagues and has a profitability well in line with ours and Latour’s demands.
Welcome to the Innovalift family Arkel!