In 2024, Latour Industries took major steps in its growth journey. With a new CEO – Tina Hultkvist – the team was strengthened, and a clear acquisition agenda was brought into focus. Innovalift was established as its own business area, and further efficiency improvements were implemented to create profitable growth within existing operations.

At the same time, the strategy is expanding with a focus on both platform and stand-alone acquisitions, where sustainable value creation is a natural part of the process. The acquisition of German HDS Group is one of several steps toward building the industrial companies of the future.

Latour Industries currently consists of six technology-intensive companies with a strong international presence – and the pace of expansion is increasing.

Read more on pages 68–71 in Latour’s 2024 Annual and Sustainability Report below.

Latour's Annual and Sustainability Report 2024

Tina Hultkvist has an extensive executive industrial and international experience from her time at the Volvo Group with a proven track record of successful leadership. Her last position at the Volvo Group was as CFO of the Group. She started at Latour Industries February 2024 as COO and part of the executive management team where her focus has been to increase the capacity of the M&A activities together with the team. Furthermore, she is owner representative and chairman of some of the holdings within Latour Industries.

“I am honored to take on the role as CEO of Latour Industries. The strategic role of Latour Industries to establish new independent business areas for the Latour industrial portfolio is exciting. I am looking forward to, together with the team, further develop current holdings as well as continuing the proactivity to acquire new companies and build platforms for new business areas, to further strengthen the industrial portfolio”, says Tina Hultkvist.

“I would like to welcome Tina to her new position. It is with great joy that I am looking forward to the collaboration with her and the team to develop Latour Industries further in line with the ambitions and culture of Investment AB Latour”, says Heléne Mellquist, Chairman of Latour Industries.

Björn Lenander will end his position as CEO of Latour Industries the same day. He will continue as Senior Advisor reporting to Heléne Mellquist. Moreover, he will keep his board assignments in Caljan and Innovalift.

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.

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 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.

Latour Industries is accelerating – even in a challenging market.

With a clear growth agenda and a sharpened focus on acquisitions, Latour Industries continues to create value and opportunities. One major milestone: the launch of Innovalift, a new division focused on lift solutions – now comprising five companies and over SEK 2 billion in sales.

From the initial acquisition of Aritco in 2016 to the recent addition of Germany’s BS Tableau, Latour has steadily built a strong platform in a sector driven by long-term trends. Innovalift will now be led by Andrea Veggian, a long-time Latour leader with deep operational experience.

As we continue expanding, we’re also strengthening our team to proactively drive new acquisitions and partnerships. Growth, long-term vision, and people development remain at the core of Latour’s success.

Read more in Latour’s 2023 Annual & Sustainability Report (pages 68–71) below

Latour’s 2023 Annual & Sustainability Report

Read here