Fain Ascensores, a Madrid-based family business, has acquired TKE Ireland to enhance its market share in the elevator maintenance sector, aligning with its ambitious growth strategy.

Information on the Target

Fain Ascensores, a family-owned enterprise based in Madrid, Spain, is making significant strides in the elevator maintenance industry. The firm recently executed a strategic merger and acquisition strategy, culminating in the acquisition of TKE Ireland, previously known as Thyssenkrupp. This acquisition positions Fain Ascensores as the second-largest elevator maintenance operator in Ireland, holding a market share of 20% and servicing 7,000 units under contract. With an impressive revenue figure of €190 million in 2023, which includes €17 million from the Irish market, the company has set ambitious growth targets aimed at reaching €250 million by 2025.

Industry Overview in Spain

Family businesses play a crucial role in Spain's economy, generating 67% of private employment and accounting for over 57% of the country's GDP. The significance of these enterprises is increasingly recognized, with the 2025 Global Family Business Index highlighting 13 Spanish family-run firms among the top 500 worldwide—two more than in the previous year. This robust performance underscores the stability and resilience that these businesses offer in the current economic landscape.

The retail and consumer goods sectors are particularly notable, with Inditex and Mercadona leading the charge. Inditex, with €38.6 billion in revenues and a workforce of over 170,000, is now under the leadership of Marta Ortega, who