Commercial Real Estate and Mergers & Acquisitions and Business Services and Real Estate & Retail

Local elevator service firm bought by German company

January 8, 2013

Amco Elevator Inc., a longtime Indianapolis elevator repair and installation company, has been purchased by a division of German-based ThyssenKrupp AG.

Terms of the acquisition, announced Monday, were not disclosed.

Amco Elevators was founded in 1965 by Don Applegate and had been locally owned until ThyssenKrupp’s purchase. The company has about 50 employees.

Officials for Amco and ThyssenKrupp did not return phone calls seeking comment about the deal.

Amco is headquartered in downtown Indianapolis near East Washington Street and Interstate 65. It has additional offices in Bloomington, Columbus, Kokomo, Lafayette, Marion, Muncie, Richmond and Terre Haute.

The company has roughly 3,000 customers in Indiana and Illinois, according to Amco’s website.

Alpharetta, Ga.-based ThyssenKrupp Elevator has more than 47,000 employees internationally and has annual sales of roughly $5.7 billion. The company has an Indianapolis location on East 87th Street.
 
 

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