Caverion and Assemblin Combination Completed
Triton Investment Advisers has completed the combination of Caverion and Assemblin, forming Assemblin Caverion Group. The new entity operates across ten countries with approximately EUR 3.8 billion in annual turnover.
Caverion and Assemblin Combination Officially Complete
Triton Investment Advisers LLP has finalized the strategic combination of Caverion Corporation and Assemblin Group AB, establishing the Assemblin Caverion Group. This integration brings together the operations of the two previously separate entities under a unified structure.
Crayfish BidCo Oy, an entity indirectly controlled by funds managed by Triton, now holds approximately 94.39% of Caverion's shares. The combination was officially closed on April 1, 2024. The stated goal is to leverage the combined strengths to offer a broader range of services and sustainable technical solutions to a wider customer base.
The newly formed Assemblin Caverion Group will employ around 21,900 individuals and generate an annual turnover of approximately EUR 3.8 billion. The group will operate in ten European countries. Following the completion, Caverion's CEO, Jacob Götzsche, has been appointed Executive Chairman of the Board, and Assemblin's CEO, Mats Johansson, will serve as President and CEO of the combined group.
Triton intends to delist Caverion's shares from Nasdaq Helsinki as soon as practicable, with the current expectation being during the second quarter of 2024. The internal restructuring does not alter Caverion's immediate legal entity status or its ownership of subsidiaries.