L. T. Elevator Ltd Acquires Major Stake in Dongyang PC, Inc., Bolstering Global Parking Technology Portfolio
L. T. Elevator Limited has acquired a substantial stake in Dongyang PC, Inc. (Dongyang PC), securing access to world-class Korean parking intellectual property. The acquisition involves 9,96,675 equity shares of Dongyang PC, representing 66.45% of its issued and paid-up share capital, with the consideration set at USD2.85 per share.Upon successful completion of the transaction, Dongyang PC, Inc. will become a subsidiary of L. T. Elevator Limited. The Share Purchase Agreement (SPA) includes provisions for further consolidation of ownership. Following the acquisition, the Company is planning to initiate a share buyback program through which Dongyang PC, Inc. will acquire and cancel 500,000 equity shares currently held by a Saudi investor at the same price of USD 2.85 per share. This planned buyback is slated for completion within 60 days from the Closing, with the objective of making Dongyang PC, Inc. a wholly-owned subsidiary (100%) of L. T. Elevator Limited.
Strategic Rationale and Company Profile
The acquisition grants L. T. Elevator significant benefits through the integration of specialized parking solutions expertise into its platform. Dongyang PC is a Seoul-based manufacturer focused on mechanical parking systems, boasting a global presence across 35 countries and over two decades of industry experience. The company operates under three globally registered brands: SMART PARKING®, ACE PARKING®, and GRAND PARKING®.The transaction unites L. T. Elevator with a core asset in advanced mobility solutions. This strategic move ensures the integration of proprietary mechanical systems, establishing a defensible moat through intellectual property protection for L. T. Elevator.
Key details regarding Dongyang PC's global footprint and innovation include:
| Metric | Details |
|---|---|
| Industry Experience | Over 20 years |
| Global Presence | 35 countries |
| Patents Held | More than 12 registered patents for mechanical parking innovation |
| Trademarks Registered | 21 registered trademarks |
Operational Capacity and Market Reach
Dongyang PC has a proven track record in the global market, having supplied over 739 units worldwide. The company’s solutions span both residential and commercial applications and are built upon principles of safety-first engineering and asset-light model deployment.The specialized technology includes:
- Vertical Rotary: SM-L & SM-SU series, offering 16-in-2 capacity with IoT control and a lifespan of 15 to 20 years.
- Cart-Type GRF Series: Large scale systems designed for multi-floor commercial and campus use.
Dongyang PC's technology is noted for its future-proof design, being EV-ready and featuring integrated EV charging capabilities in deployed units.
A sample of the company’s flagship projects highlights the range and quality of its work:
| Project Location | Client/Type | Units & Capacity | Certification / Details |
|---|---|---|---|
| Intel Corporation, Israel | High-spec commercial | 13 units / 208 parking spaces | SMART PARKING® SM16L |
| Enso Village, California, USA | Residential | 10 units / 108 spaces | ASCE 7 certified; high seismic zone deployment |
| Devonshire, Singapore | Prime residential complex | 72 cars / 2 AC36 towers | ACE PARKING® |
L. T. Elevator anticipates that the acquired assets and associated market opportunities are expected to contribute approximately 1'30 Cr revenue to L. T. Elevator for the remainder of FY27.
Stock Price Movement
L. T. Elevator Ltd shares settled at ₹290.90 on Tuesday, climbing sharply after closing the day up 4.89%. The stock navigated a wide trading range during the session, hitting a low of ₹279.85 before peaking briefly at ₹291.20.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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