Partners Group’s Sino-European play
The manufacturers of guide rails used in elevators are an oligopoly serving an oligopoly. Three companies control 80% of the market and eight of their clients are responsible for 90% of the world’s elevators. This concentration of supply may in part be due to product safety. Guide rails stop elevators swaying in their shafts; the faster an elevator moves, the greater the pressure exerted on the guide rail.
The three guide rail manufacturers are China-based Changjiang Runfa, Italy's Monteferro and Suzhou Savera Elevator Riding System, a 47-year-old company with Spanish origins that put roots in China in 1999....
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