Caverion – The strategic combination of Caverion and Assemblin is completed
Triton Investment Advisers LLP, the company managing the entities comprising Triton Fund V (together “Triton”), which indirectly control Crayfish BidCo Oy, completed on 1 April 2024 all legal and administrative proceedings needed to create Assemblin Caverion Group and subsequently successfully closed the combination between the previous portfolio companies Assemblin Group AB (“Assemblin”) and Caverion Corporation (“Caverion”).
Crayfish BidCo Oy holds approximately 94.39% of all outstanding shares and votes in Caverion (excluding treasury shares).
As announced on 5 March 2024, Caverion CEO, Jacob Götzsche, is appointed Executive Chairman of the Board of Directors and Assemblin CEO, Mats Johansson, is appointed as President and CEO of Assemblin Caverion Group.
Assemblin Caverion Group unifies the strengths and capabilities of a new group, offering a broader range of services and providing sustainable technical solutions to an expanded customer base. The group operates across ten countries, generates an annual turnover of approximately EUR 3.8 billion/SEK 43.5 billion, and employs around 21,900 skilled employees.
The combination is carried out by way of an internal restructuring within Triton as result of which Triton’s ownership in Assemblin and Caverion are combined under the same holding structure. The combination does thus not affect Caverion’s immediate ownership structure or Caverion’s ownership in its subsidiaries, and Caverion’s status as an independent legal entity remains unchanged. The combination does not impact the currently ongoing redemption proceedings of the minority shares in Caverion. The intention of Triton and Crayfish BidCo Oy, Caverion’s controlling shareholder, is to delist Caverion’s shares from Nasdaq Helsinki Ltd as soon as reasonably practicable, which is currently expected to occur during the second quarter of 2024.
CAVERION CORPORATION
SourceCaverion
EMR Analysis
More information on Caverion: See the full profile on EMR Executive Services
More information on Mikael Aro (Chairman of the Board of Directors, Caverion + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Jacob Götzsche (President and Chief Executive Officer, Caverion Corporation + Executive Chairman, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Mikko Kettunen (Chief Financial Officer, Caverion): See the full profile on EMR Executive Services
More information on Assemblin Caverion Group: https://www.assemblin.com/about-us/assemblin-caverion-group/ + https://www.assemblincaverion.com/ + The 1 april 2024 we became Assemblin Caverion Group, together we will form Assemblin Caverion Group, a leading Northern European technical service and installation company. A true market leading forerunner, providing the most comprehensive and cutting-edge solutions across the full lifecycle. Together, we continue to care, lead and deliver: smart and sustainable solutions for the built environment.
With our headquarters nestled in Stockholm, Sweden, we serve clients from our divisions at Assemblin and Caverion in Sweden, Finland, Norway, Austria, Germany, Denmark, as well as the Baltics and Poland.
- 3.8 billion EUR / SEK 43.5 billion in combined revenue
- 21,900 combined number of employees
- 10 operating countries
The Parent Company of the combined Group is Assemblin Group AB (under name change to Assemblin Caverion Group AB)
Assemblin Caverion Group’s principal shareholders are Triton Fund IV CF and Triton Fund V, managed by Triton Investment Advisers LLP. Triton is an international investment company founded in 1997. The company’s objective is to enable the creation of better companies through long-term partnerships. Triton invests in medium-sized companies domiciled in Europe that are active in the industry, business services, and health sectors.
More information on Jacob Götzsche (President and Chief Executive Officer, Caverion Corporation + Executive Chairman, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Mikael Aro (Chairman of the Board of Directors, Caverion + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Hans Petter Hjellestad (Investment Advisory Professional – Industrial Tech, Triton + Member of the Board, Caverion + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Mats Jönsson (Independent Member of the Board, Assemblin Caverion Group + Chairman of the Board, Assemblin): https://www.assemblincaverion.com/governance
More information on Peder Prahl (Firm Managing Partner, Chief Executive Officer, Triton + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Mats Johansson (President and Chief Executive Officer, Assemblin + President and Chief Executive Officer, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Triton Investment Advisers LLP and Triton Fund V: https://www.triton-partners.com/ +
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.
Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
Triton has raised over €18bn across three complementary investment strategies that apply the firm’s 25 years of through cycle experience:
- Mid-Market Private Equity (supporting fundamentally sound businesses facing some complexities)
- Smaller Mid-Market Private Equity (using the Triton platform to grow well-performing smaller companies operating below their potential)
- Credit (opportunistic pull-to-par credit in complex situations)
Triton believes it takes a responsible approach to building better businesses for the long-term, through an experienced team of investors, operators, and specialists. This includes West Park, a dedicated value creation unit comprising operational and functional; specialists in key areas such as full potential, ESG, digital, leadership & culture, debt financing and more.
We partner with ambitious management teams and provide additional operational know-how, experience, and investment to help unlock companies’ full potential.
More information on Peder Prahl (Firm Managing Partner, Chief Executive Officer, Triton + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Hans Petter Hjellestad (Investment Advisory Professional – Industrial Tech, Triton + Member of the Board, Caverion + Member of the Board, Assemblin Caverion Group): See the full profile on EMR Executive Services
More information on Crayfish Bidco Oy : No available website. Crayfish Bidco Oy is controlled by the Triton Fund V.
