How do you move an LLC
thyssenkrupp Elevator takes over all shares in Braun ThyssenKrupp, LLC
Madison, Wisconsin (December 1, 2020) thyssenkrupp Elevator has acquired a full stake in its joint venture partner in the USA, Braun ThyssenKrupp Elevator, LLC. The parties have agreed not to disclose the details of the transaction. 68 employees work at Braun ThyssenKrupp Elevator at the two locations in Wisconsin in the Madison and Milwaukee regions.
Braun ThyssenKrupp Elevator, formerly Braun Elevator, has been a fixture in Wisconsin's elevator service business for more than 60 years. Braun's relationship with thyssenKrupp Elevator dates back to 1950 when the company became a sales partner of the Montgomery Elevator and Rotary Lift Company, which later became the Dover Elevator Company. Dover was taken over by thyssenkrupp Elevator in 1998.
The business relationship intensified in 2005 when thyssenkrupp Elevator entered into a joint venture with Braun and established Braun ThyssenKrupp Elevator, LLC. The new partnership made Braun the exclusive provider of thyssenkrupp Elevator products and services in the Madison and Milwaukee areas, while the company continued to be locally owned and managed.
"Braun has embodied excellent elevator service in Wisconsin and northern Illinois for more than half a century. It is one of the most trusted and respected elevator companies in the area, and we are delighted to have it wholly owned by the thyssenkrupp Elevator family," said Kevin Lavallee, President and CEO of thyssenkrupp Elevator North America.
The history of the family business began in 1949 when Rollie Braun and Les Berman joined the Berman Electric Company. By merging with the Kern Elevator Company in 1965, the company was transformed into the Berman-Kern Elevator Company. After Berman retired in 1970, sole owner Braun changed the company's name to Braun Electric and Elevator Company in 1972. His son Darrell joined the company in 1985 after an 11 year career at Westinghouse Elevator Company and took over management in 1993 when the company was renamed Braun Corporation. Darrell's son, Andrew, also currently works for the company.
"Customer satisfaction is at the center of everything we do, and for more than 60 years the local communities have known that they can rely on Braun when it comes to moving them safely. We are proud to work and live here", says Darrell Braun, Chief Executive Officer of Braun Corporation. "thyssenkrupp Elevator shares our philosophy that the customer comes first, and we look forward to continuing to use thyssenkrupp Elevator's innovative products, technologies, services and resources to provide our customers with the highest level of service."
At the beginning of this year, thyssenkrupp Elevator Canada acquired Winnipeg Elevator, a leading service provider in the Winnipeg area for more than 50 years. In 2019 thyssenkrupp Elevator acquired Nashville Machine Elevator, its exclusive distributor in the Middle Tennessee area, and O'Keefe Elevator, the largest full-service elevator company in Nebraska and Iowa.
With customers in over 100 countries served by more than 50,000 employees, thyssenkrupp Elevator achieved sales of around € 8.0 billion in fiscal year 2018/2019. Over 1,000 locations around the globe form a dense sales and service network and thus guarantee optimal proximity to the customer. thyssenkrupp Elevator has established itself as one of the world's leading elevator companies since entering the market 40 years ago and has been independent since August 2020. The company's most important business area is the service provided by more than 24,000 technicians for around 1.4 million transport solutions worldwide. The product portfolio ranges from passenger and freight elevators to modern, individually adapted solutions for modern high-rise buildings - such as the One World Trade Center in New York. In addition to escalators, the portfolio also includes moving walks, passenger boarding bridges, stair and platform lifts as well as tailor-made service solutions such as MAX, the industry's first cloud-based, digitized maintenance solution - and thus covers a broad spectrum of urban mobility.
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