Grupo Fain Ascensores has acquired TKE Ireland to enhance its market share and solidify its position as a key player in the elevator maintenance sector.

Target Company Overview

The family-owned enterprise Grupo Fain Ascensores has made significant strides in international expansion by acquiring TKE Ireland, the former Thyssenkrupp elevators subsidiary. This acquisition solidifies its position as the second-largest operator in elevator maintenance in Ireland, boasting a 20% market share with a portfolio of 7,000 systems. In 2023, the company reported revenues of €190 million, with €17 million sourced from its Irish operations, and it aims to reach €250 million in revenues by 2025.

Fain's strategy includes unifying its brand under 'FAIN Ireland', enhancing local talent, and maintaining its core values of proximity, technical excellence, and respect for individuals, which are essential for its continued growth and sustainability in the competitive landscape.

Industry Overview in Spain

Family-owned businesses play a pivotal role in the Spanish economy, generating 67% of private employment and contributing over 57% of the nation’s GDP. According to the Global Family Business Index 2025 by EY and the University of St. Gallen, 13 Spanish fami