KONE and TKE combine in largest deal in Finland’s history

Type of deal: corporate acquisition

Sector: elevator and escalator industry

KONE Corporation and a consortium led by Advent and Cinven, through their jointly controlled holding company Vertical Topco I S.A., have entered into an agreement to combine KONE and TKE. This transaction creates a world class company in the elevator and escalator industry and marks the largest deal in Finland's corporate history.

The combination brings together two global elevator and escalator companies with complementary geographical footprints and competencies, accelerating innovation, service and modernisation capabilities. 

PwC had a role to play in this historical deal: our teams provided KONE with financial, human resources and tax due diligence, deal accounting advice, and tax structuring and SPA support.

Deal announcement date: 29 April 2026

PwC’s role: financial, human resources and tax due diligence, deal accounting advice and tax structuring and SPA support

Press release