Mitsubishi Electric and Mitsubishi Electric Building Solutions Corporation (hereafter, MEBS) are aiming to expand their elevator maintenance business globally, and the present acquisition follows the 2023 acquisition of UNIHEIS (headquarters: Oslo, Norway).

Through this acquisition, we will expand our maintenance business in Norway and further strengthen our business foundation by promoting a strategy aimed at increasing our elevator maintenance stock in the European market, where we anticipate continued growth in demand for maintenance and renewal.

Tomas Knutsen, CEO of ALT Heis AS

“Our company places the highest priority on customer satisfaction and delivering high-quality services. By joining forces with Motum AB, we are confident that we will be able to strengthen the business foundation we have built up over many years, further improve the quality of our services, and provide our valued customers with innovative solutions.”

Fredrik Eliasson, CEO of Motum AB

“ALT Heis’s commitment to service and customer satisfaction are in perfect alignment with Motum’s values and goals. This acquisition will bring direct benefits to our customers as it will expand the range of products and services we provide and strengthen the capabilities of our group. As a multi-subsidiary group operating in Sweden and Norway, ALT Heis joining the Motum family enable us to serve the market as an integrated provider across a larger geographic area.”

Iwao Oda, Executive Officer, Group President, Building Systems, Mitsubishi Electric Corporation / Representative Director, President & CEO, Mitsubishi Electric Building Solutions Corporation

“We have positioned the expansion and reinforcement of our European business as one of the core strategies of our building systems business. Following our previous acquisition of UNIHEIS, this latest acquisition will further strengthen our position in Norway, and we will continue to actively pursue M&A strategies with the aim of achieving sustainable growth.”

Reasons for The Acquisition of ALT Heis

In the building systems business, one of Mitsubishi Electric’s key growth businesses, MEBS, a consolidated subsidiary established in April 2022, is engaged in providing products and services and expanding its operations by making the most of its integrated system, which encompasses everything from development and manufacturing to maintenance and renewal. In the overseas elevator business, particularly in the mature European market, demand for maintenance and renewal is expected to grow against the backdrop of an increasing number of aging elevators and heightened environmental awareness, and we are in the process of building a system that will make it possible for us to provide our customers with value more rapidly.

Since 2019, ALT Heis has been focusing on the elevator maintenance and renewal business in Bergen, Norway’s second largest city after Oslo. With the acquisition of ALT Heis by Motum, we will further strengthen our business foundation while promoting a strategy of expanding our elevator maintenance stock in Europe, with the aim of comprehensively extending our reach throughout the main regions in Norway where demand is concentrated.

Press release: https://acnnewswire.com/press-release/english/94154/