Norvestor-backed Langer & Laumann acquires UK elevator firm to build €40M European platform
What's the deal? Langer & Laumann Elevation GmbH (L+L), majority owned by Nordic private equity firm NorvestorDealroom has a profile for this one. Try Dealroom →, has acquired a majority stake in Complete Plant Maintenance Engineering (CPM) and its subsidiary Northern Drives & Controls (NDC). The deal combines L+L's strong position in the DACH region with CPM/NDC's presence in the UK and US, creating a European elevator aftermarket platform approaching €40M in revenue.
CPM, based in Manchester, specialises in round-the-clock repair, replacement, and maintenance of electronic, electrical, and mechanical equipment — particularly elevators, drive systems, motors, and gearboxes. It serves elevator companies, facility managers, and building owners across the UK, US, Spain, and Germany.
CPM's owners David and Jordan Griffin have reinvested into the combined platform as part of the transaction.
Why now? Norvestor IX partnered with L+L in 2023 with a stated ambition to pursue both organic growth and a focused acquisition strategy to build a leading independent European elevator aftermarket platform. This deal is the clearest execution of that buy-and-build playbook, adding a complementary UK business with US reach and deep capabilities in critical elevator component repair.
The combined group now offers a broader one-stop shop for modernisation, repair, and maintenance of elevator systems — spanning retrofit door drives, control solutions, and 24/7 field service.
What could go wrong? Integrating businesses across multiple geographies — the DACH region, UK, US, and Spain — brings operational complexity. Cultural differences between a German engineering firm and a Manchester-based service outfit could create friction. And in a sector where safety and rapid response are paramount, any disruption during integration carries real risk.
The elevator aftermarket also faces pressure from large OEMs that increasingly try to lock in their own maintenance contracts, potentially limiting the addressable market for independents.
The signal: Norvestor's buy-and-build approach with L+L fits a well-worn PE playbook of rolling up fragmented, essential-services verticals across Europe — and the elevator aftermarket, with its recurring revenue and ageing installed base, is a textbook target. The reinvestment by CPM's founders suggests confidence in the platform's consolidation thesis, while the move into the UK and US signals that Norvestor sees the independent elevator services market as undersaturated relative to OEM-dominated maintenance contracts.
Read more: norvestor.com
