The Establishment of Latour’s Latest Business Area – Innovalift

In the Q1 2024 interim report, the introduction of Latour's new business area Innovalift was announced. This means that Latour Industries has once again accomplished its main task of establishing a new business area within Latour. Innovalift's journey, which began in 2016 at Latour Industries, lasted approximately 8 years. But what exactly did it look like, and what does Latour's business area Innovalift do?

Innovalift’s Journey

The journey began with the acquisition of various platform lift companies. First up was the acquisition of Aritco Group in 2016, which consisted of Aritco Lift and Gartec. This was followed by the acquisition of Vimec in 2017, TKS Heis in 2019, and finally Motala Hissar in 2021. The acquisitions made between 2017-2021, together with Aritco Lift and Gartec, formed an international group of leading platform lift companies.

Timeline over Innovalift’s journey

Timeline over Innovalift’s journey.

In addition to platform lift companies, the installation and service companies Invalifts and Ability Lifts were acquired through Aritco Group in 2019. Alongside these acquisitions Latour Industries entered the market of elevator components and modernization through the acquisition of Vega 2021. Subsequently, Esse-Ti (2022) and BS Tableau (2024) were added to the family of component and modernization companies.

At the beginning of 2024, all these companies were consolidated into a new division within Latour Industries under the name Innovalift. With a net revenue of 2.6 billion SEK (pro forma, 2023) and approximately 850 employees, Innovalift took the step out of Latour Industries in 2024 to become its own business area within Latour.

Innovalift’s Idea and Market

The idea is to move people – whether they are individuals seeking increased mobility or comfort in their homes, property owners wanting to provide enhanced accessibility in public spaces, or elevator companies looking for the latest technology in their installations.

The Platform lift HomeLift Compact from Innovalift’s business area Aritco Group

The Platform lift HomeLift Compact from Innovalift’s business area Aritco Group.

The platform lift operations encompass both vertical lifts and stairlifts, targeting both the home market and the public market. Key growth factors in these markets include accessibility requirements, urbanization, and demographic changes. The elevator components operations include the manufacturing and sale of various components such as control systems, gateways, alarm systems, and user interfaces, primarily for modernization projects. Growth factors in this market include an aging installed base of elevators, new regulations, and the cost and sustainability benefits of modernization compared to new installations.

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Latour Industries is part of the investment company Latour and constitutes a business area within the wholly owned industrial operations. As part of Latour, we are guided by the same core values: Long-term Perspective, Businessmanship, Trust & Accountability, and Development. Latour Industries functions as Latour's incubator, with the goal of active and thoughtful ownership leading to stable and independent development of the holdings, which over time can become their own business areas within Latour.