Triton Investment Advisers LLP has finalized the formation of the Assemblin Caverion Group. The process, completed on April 1, 2024, involved the successful merger of Assemblin Group AB and Caverion Corporation, two former portfolio companies. Crayfish BidCo Oy, under Triton’s indirect control, now holds a commanding 94.39% share in Caverion, excluding treasury shares.

This strategic move was further cemented with the appointment of Jacob Götzsche, former CEO of Caverion, as the Executive Chairman of the Board of Directors. Mats Johansson, previously CEO of Assemblin, has taken the helm as President and CEO of the newly formed group.

The Assemblin Caverion Group emerges as a powerhouse, boasting a broad spectrum of services and sustainable technical solutions for a diverse customer base. With operations spanning ten countries, the group reports an impressive annual turnover of approximately EUR 3.8 billion (SEK 43.5 billion) and a dedicated workforce of around 21,900 employees.

The merger is a result of an internal restructuring within Triton, leading to a unified ownership structure for Assemblin and Caverion. Importantly, this restructuring does not alter Caverion’s immediate ownership or its subsidiaries, preserving its status as an independent legal entity. Moreover, the ongoing redemption proceedings for Caverion’s minority shares remain unaffected.

Looking ahead, Triton and Crayfish BidCo Oy, the controlling shareholder of Caverion, plan to delist Caverion’s shares from Nasdaq Helsinki Ltd. This significant step is anticipated to take place in the second quarter of 2024, marking a new chapter for the Assemblin Caverion Group.