Kirkland & Ellis advised the bidding consortium led by Advent, Cinven and the RAG-Stiftung (RAG foundation) on the acquisition of the elevator division of thyssenkrupp AG. This is expected to be the largest-ever European buyout transaction to date. thyssenkrupp will reinvest part of the purchase price in a reverse stake in the elevator technology business. thyssenkrupp Elevator is a leading international provider of elevator technology with operations in more than 1,000 locations worldwide. Headquartered in Germany, the Group generated revenues of €8.0 billon in the financial year 2018/2019. The transaction is expected to close by the end of the third quarter of 2020, subject to customary closing conditions and regulatory approvals. Read the company press releases from Advent and Cinven The Kirkland team was led by Private Equity/M&A partners Benjamin Leyendecker, Philip Goj and Adrian Maguire, and included Private Equity/M&A partners Attila Oldag, Mark Aschenbrenner, David Higgins, Jacob Traff, Volkmar Bruckner and Rongjing Zhao; finance partners Chris Shield and Hugh O'Sullivan; capital markets partners Matthew Merkle, Michael Taufner and Shawn Anderson; tax partners Oded Schein, Daniel Hiemer, Sara Zablotney and Russel Light; competition partners Sarah Jordan, Matthew Sinclair-Thomson and Annie Herdman; IP & technologies partner Emma Flett and Joanna Thomson; internal trade partner Shawn Cooley supported by private equity/M&A associates Sebastian Häfele, Samuel Frommelt, Angelina Seelbach, Christina Albath and David Huthmacher.