Triton Partners, a Swedish mid-market private investment firm focused on investments in industrial tech, services, consumer, and healthcare companies, has made an offer for Finnish construction systems provider Caverion that values the business at around €1.09 billion, according to a report by Reuters.
Triton Partners, a Swedish mid-market private investment firm focused on investments in industrial tech, services, consumer, and healthcare companies, has made an offer for Finnish construction systems provider Caverion that values the business at around €1.09 billion, according to a report by Reuters.
Triton’s €8 per share offer exceeds an existing bid for the company of €7 per share made by Bain Capital-led consortium North Holdings back in November, which valued Caverion at €955 million.
The report cites a statement by Triton as saying that is is seeking the support of Caverion’s board in a bid to complete the takeover in the third or fourth quarters of 2023.
Caverion’s board meanwhile, has said it will present its view on the two offers, including a potential change in recommendation, by 24 January 2023, after the expiry of the eight business days right to match period for the Bain Consortium under a Combination Agreement signed and announced on 3 November 2022.
