Advent International

Money Moves

Co-owner of TK Elevator; selling to Kone

Finland's Kone has agreed to buy Germany's TK Elevator for €29.4 billion, a deal that would collapse the elevator industry's long-standing 'Big Four' into three players. The combined company would maintain roughly 3.2 million elevators and escalators worldwide and generate about €20.5 billion in annual revenue. About 65% comes from service and modernization contracts—the stable, recurring-fee side of the business that drives margins.

Updated May 31

Money Moves

Controlling shareholder exiting investment

Olaplex went public in September 2021 at a valuation north of $15 billion, riding a wave of consumer enthusiasm for its patented bond-repair hair treatments. In four and a half years, the company faced lawsuits alleging hair loss, a banned ingredient scandal, and relentless competition. German consumer goods conglomerate Henkel agreed to buy it for $1.4 billion—roughly a tenth of its IPO value.

Updated May 30

Money Moves

Lead buyer in Heidrick take‑private and active consolidator across sectors

Before the market opened on December 11, Ares Management — a private-credit powerhouse with nearly $600 billion under management — slid into the S&P 500, replacing Kellanov. Kellanov completed its $35.9 billion sale to Mars that day.

Updated May 10