Advent and Cinven are weighing exit options for TK Elevator, as the private equity firms consider both an IPO and a potential sale of the business amid renewed deal speculation.

The elevator manufacturer said on Tuesday that no decision has been taken on its future, with a public listing remaining one of several strategic options under review.

The deliberations follow an earlier Bloomberg report that Finland’s Kone is in talks to acquire TK Elevator, a transaction that would create the world’s largest lift manufacturer, surpassing industry leaders Otis and Schindler.

Market conditions have added complexity to the process, with recent equity volatility making a trade sale increasingly attractive relative to an IPO.

Advent and Cinven have been preparing the business for a potential listing, following their acquisition of the asset in 2020 as part of a €17.2bn consortium deal.

However, a merger with Kone could face regulatory scrutiny, with competitors already signalling potential challenges before antitrust authorities.

The situation highlights broader dynamics in private equity exits, where firms are balancing public market uncertainty with strategic buyer interest. The outcome will depend on market conditions, regulatory considerations, and the relative attractiveness of competing exit routes.

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