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ThyssenKrupp buys UK elevator service business

Reuters - UK Focus

FRANKFURT, Dec 8 (Reuters) - ThyssenKrupp (Xetra: 750000 - news) bought UK-based Lift & Engineering Services Ltd (LES) for an undisclosed sum as part of its strategy to grow its business with high-margin elevator maintenance.

LES specialises in the design and manufacture of all types of lift equipment and drive systems and provides comprehensive maintenance, repair, and emergency response services for any make of lift, escalator, or hoisting equipment, ThyssenKrupp (Swiss: TK.SW - news) said in a statement on Monday.

It added that the takeover of LES was its most significant acquisition in the United Kingdom since it bought Hammond & Champness in 1999. (Reporting by Maria Sheahan; Editing by Christoph Steitz)