Kirkland & Ellis has advised TK Elevator (TKE) and its majority shareholders on an investment by Alat in the TKE Group as well as the formation of a joint venture between the TKE Group and Alat.

As a result of the investment, Alat will become a shareholder of TKE with a 15% stake and a member of the investor consortium. Moreover, the joint venture led by TKE will offer elevator and escalator solutions in Saudi Arabia and the EMEA region and manufacture and distribute these products there.

Both transactions are expected to be completed by the end of the third quarter of 2025, subject to customary approvals.