December 8, 2014 / 9:23 AM / 3 years ago

ThyssenKrupp buys UK elevator service business

Electricians remove a cover with the logo of ThyssenKrupp AG at the company's headquarters in the western German city of Essen November 19, 2014. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - ThyssenKrupp (TKAG.DE) 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 specializes 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 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

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