KONE Corporation, press release, 8 May, 2024
KONE, a global leader in the elevator and escalator industry, announced that it has acquired Orbitz Elevators - an Australian-based provider of custom-designed elevator and escalator solutions for both commercial and residential properties.
KONE will acquire the service business of Orbitz Elevators in Australia and all lines of the company's businesses in New Zealand. The acquisition does not include Orbitz Elevators' Papua New Guinea business.
"Our acquisition of Orbitz Elevators complements KONE's existing service offerings in the South-Pacific and beyond," Marek Oppeln-Bronikowski, Managing Director, KONE Australia Pty Ltd said. "As such, the deal is key to providing the most innovative People Flow solutions to our customers and end-users."
Founded in 2014, Orbitz Elevators has earned a strong reputation as a full-service provider of elevator and escalator solutions and brings with it a skilled team of approximately 40 employees and a strong customer portfolio. Their dedication to innovation, and quality, as well as customer service aligns perfectly with KONE's core values.
"We're excited to welcome Orbitz Elevators' employees and customers to KONE. I'm confident that by combining our experience, we can generate even greater value for our customers," continued Marek Oppeln-Bronikowski.
"For the past ten years our talented teams have focused on creating exceptional customer experiences," added Jon Dwayre, founder and Managing Director of Orbitz Elevators. "By joining KONE, we gain access to their local and global expertise, supply chain and resources. This will allow us to provide our customers with a broader, stronger portfolio of innovative and sustainable products and services."
KONE and Orbitz Elevators will continue to operate as separate entities until the integration is completed. Dwayre will join KONE in an advisory role for five consecutive years, to ensure a smooth transition. Meanwhile, Shane Rogers, current Managing Director of Orbitz Elevators in New Zealand, will maintain his leadership position.
The value of the transaction is not disclosed.
For further information, please contact:
Hanna Rutanen, Senior Vice President, Communications, KONE Corporation, tel. +358 41 507 1361, media@kone.com
About KONE
At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2023, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.
About Orbitz Elevators
Orbitz Elevators (founded in 2014) is an Australian-based elevator company with over 700 years of combined experience amongst their team that provides custom-designed elevators and lifts for both commercial and residential properties. They offer innovative and sustainable solutions, such as regenerative drives and eco-friendly components and have won a number of awards dedicated to both their business and their founder, Jon Dwayre. Their core values include integrity, innovation, and quality as well as a focus on superb customer service. The average price of their products ranges from $35,000 to $80,000, depending on the specific requirements of each project.
