In this research note we explore the strategic priorities and business activities of Finnish building technology company Caverion, which has been listed on the Nasdaq Helsinki since 2013. In the last month, a consortium led by North Lux Holdco SARL, a vehicle owned and controlled by Bain Capital Private Equity, has proposed a voluntary public cash tender offer for all issued and outstanding shares in Caverion. The firm’s directors unanimously decided to recommend that the shareholders of Caverion accept the tender offer, which would see the firm delisted from the stock-exchange to allow it “to undertake an extensive transformation to sustainably improve its long-term performance.” With the shareholder decision due before the offer expires on January 12th 2023, we map the Caverion’s route up to this point. Caverion was established in 2013, through the demerger of Building Services and Industrial Services businesses from the 100+ year old YIT Group. As an independent entity, Caverion has […]