The Saxony-based elevator company is a medium-sized family owned business with a 20 year presence in the German elevator market. The closing of the transaction is subject to merger control clearance by the competent antitrust authorities.
FB group engages in the manufacturing, installation, modernization and maintenance of elevators and elevator components. The group has 225 employees and branch offices in Berlin, Dresden and Leipzig.
The acquisition of the FB group will further strengthen Schindler Germany's strategic direction, particularly relating to the high-end lift segment of custom-made solutions, as well as in the retrofit of elevators.
Both parties agreed to keep the details of the transaction confidential.