Triton Partners to acquire Caverion for $1.3bn.

Bain Capital, an American private investment firm, Corbis, company operating mainly in the infrastructure, mining & metals and electric power sector, Security Trading, an investment company, and Fennogens Investments, an investment management firm, completed the acquisition of Caverion, an industrial services provider, for $1.3bn. “The offer made by the consortium provides clear evidence that Caverion’s goal to achieve “Sustainable Growth” by delivering to our customers along the building’s lifecycle and assisting in their Smart Building and green transitions is an attractive strategy for the future. I believe that with the support and resources from Bain Capital and the Consortium we will be able to further accelerate our business and deliver value to all stakeholders. We at Caverion continue our daily work as usual, focusing on serving our customers and working together across the company,” Jacob Götzsche, Caverion President and CEO. On December 10, 2022, Triton offered to acquire Caverion for $1.2bn, representing a 14.3% premium. On January 24, 2023, North Holdings proposes two alternative offers. The debt offer valued the company at $1.26bn and cash at $1.19bn. On February 24, 2023, Triton improves its offer to valued the company at $1.3bn. On August 31, 2023, Triton received unconditional merger control clearance from the European Commission.