The concentration process in the European lift industry continues

The consolidation process in the European lift industry is continuing: Alongside the Finnish-German mega-deal of Kone and TK Elevator, other cross-border takeovers and mergers have taken place in Europe. Here a selection of these.

BY BERND LORENZ

Mitsubishi Electric has acquired Infinity Lifts Ireland (from the left): Shingo Sawada (Mitsubishi Electric Corporation), Garech McGuinness (Infinity Lifts Ireland) and Fredrik Eliasson (European Regional Headquarters of Mitsubishi Electric Building Solutions) Photo: © Motum Infinity Lifts

In spring, the Spanish Fain Group merged its four subsidiaries De Lift, LiftInc, Liftup and Qualitylift under the brand "Fain Belgium". According to the company’s press release, this made it the third biggest provider in the country with a share of 18 percent in the stock of maintained lifts (there are apparently more than 100,000 installed lifts) and reinforced its position in Belgium as market leader for the assembly of lifts.

In 2025 all of the Belgian subsidiaries, which also include the companies Rensonnet, CDI and Stalift, generated a combined turnover of 48.9 million euros. The CEO of Fain Belgium is Arne Vandenberghe.

Further takeovers are to take place

The Danish lift service company Elecom Elevator from Glostrup (near to the Danish capital Copenhagen) has been part of the Fain Group since July 2025. This was due to generational change in the company management. "Henning Nielsen and I will remain part of the group of owners to guarantee a smooth transition," explained Jørgen Thomsen, former managing director and partner of Elecom Elevator.

The current CEO is Thomas Andersen, who together with Thomsen and Nielsen has been admitted to the group of owners as minority shareholder. Fain is the majority owner. In spring 2026 another lift service company was integrated in the group in the form of 3E from Odense. The two subsidiaries manage 2,100 lifts and make a total turnover of 13 million euros. According to the company, the Fain Group has a workforce of over 1,700, manages over 100,000 lifts and this year is aiming for a turnover of 300 million euros.

Due to international growth, markets like France, the Netherlands, Switzerland, Belgium, Denmark and Ireland now account for 40 percent of its business activity. Further takeovers in Spain and other European countries are to take place this year.

More informations: fainbelgium.be

elecom.dk

3e.dk

fain-elevators.com


Second acquisition in Ireland

At the beginning of April 2026, the Swedish company group Motum and Mitsubishi Electric Building Solutions Europe announced the takeover of Infinity Lifts from Ennis (western Ireland). As a result, two lift companies had been acquired that according to a press release "possess comprehensive expertise in the distribution, installation and maintenance of Mitsubishi lifts throughout the Irish market."

Ascension Lifts from Dublin was purchased about a year before this. Infinity Lifts is to continue to operate as an independent company. The team, contact data and existing customer and supplier agreements are to remain unchanged. Co-founder Garech McGuinness remains CEO.

By its own account Motum is the biggest independent company group in Norway and Sweden that installs, modernises, maintains and repairs lifts and doors. The portfolio includes Motum Stockholm, Motum Hiss Blekinge, Motum Hiss Skåne, Motum Port, Motum Mitt, Motum Väst, Motum Närke, Roslagens Hiss, Uppsala Lyftservice, Motum AS and Alt Heis. Then there are also Ascension Lifts and Infinity Lifts in Ireland. The Motum Group does not publish any information on the numbers employed, lifts managed and annual turnover.

More informations: infinitylifts.ie

motum.ie

motum.se


From Spain to East Europe

The first quarter of this year saw the Spanish lift builder MP Lifts taking action in eastern Europe. Výtahy Bestlift, based in Prague, was taken over in mid-March with its management remaining unchanged. This would increase the lift portfolio of MP Lifts in the Czech Republic by 500 units, according to an MP Lifts press release. The aim of the acquisition was above all to strengthen its position in the capital and continue the expansion in Brünn.

Koppel Romania Ascensoare from Bucharest, which is specialised in the maintenance, repair and modernisation of lifts, was integrated in the Romanian branch MP IFMA in June 2026. The addition of 300 lifts to the portfolio would boost maintenance services in the capital, according to MP Lifts. Apart from its headquarters in Bucharest, MP IFMA is represented nationally by a network of nine regional offices, which the company uses to distribute its services across the country.

By its own account, MP Lifts employs over 1200 staff, has installed over 170,000 lifts and is represented internationally in more than 100 countries through its branches.

More informations: bestlift.cz

mplifts.com


Focus on the UK

Lukas Schlenker and Scott Haywood‘s acquisition strategy is concentrated on the United Kingdom. They have been buying up small companies in England, Scotland and Wales for about two-and-a-half years and bringing them together under the umbrella of Pace Group Holding Limited. They purchased the lift maintenance portfolios of DeSeM from Stoke-on-Trent and Lift Smart Solutions from Tilbury at the beginning of July (England).

In addition, the lift builder Atlas Lifts and Services from Aberdeen and Bradford Lifts have been taken over. Consequently, 18 companies representing about 25 brands now belong to the Pace Group. The latter’s workforce of about 200 services around 14,000 lifts. "By the end of the year we should have concluded another four to five transactions and this transaction volume will probably continue in the coming years," explained Lukas Schlenker, who together with Scott Haywood is one of the founders and owners.

According to Schlenker, the turnover of the Pace Group was about 32 million pounds in the 2025 financial year (about 37.4 million euros). Revenues of about 40 million pounds (approximately 46.8 million euros) were expected in 2026. Pace Group’s growth course is backed financially by the private holding company Lloyds Development Capital (LDC), which is part of the listed Lloyds Banking Group.

More informations: thepacegroup.co.uk


Lifts as new business field

Up to now, the British Complii Group has specialised in safety and compliance services in the fields of electrotechnology, fire safety and water. The company based in London expanded its portfolio in spring 2026 and established an independent division to verify the observance of regulations for lifts and escalators throughout the United Kingdom.

The takeovers of The Escalator Company from Rochester and Glasgow were announced in May. Complii belongs to the British private equity company Ansor, whose portfolio consists of SMEs from attractive growth sectors.

More informations: complii.com

theescalatorcompany.com
liftengineers.co.uk