Triton’s Crayfish BidCo announces public cash tender offer for all shares in Caverion

Avance advises Triton Equity Partners in relation to Crayfish BidCo’s, a Finnish company controlled by Triton Fund V, voluntary public cash tender offer for all the shares in Caverion Corporation.

Pursuant to the offer Crayfish BidCo proposes to acquire all issued and outstanding shares in Caverion Corporation at an offer price of EUR 8.00 per share. The tender offer values Caverion’s total equity at approximately EUR 1,092 million. The offer period under the tender offer is expected to commence on or about 31 January 2023 and to initially expire on or about 11 April 2023.

The tender offer is subject to certain conditions, including the tender offer having been validly accepted with respect to shares representing, together with any other shares otherwise acquired by the offeror prior to or during the offer period, more than 90 percent of the outstanding shares and voting rights in Caverion, and the receipt of all necessary regulatory approvals, permits, clearances and consents.