This Research Note examines recent private equity backing of companies in the building technology space, with a focus on commercial real estate. We reviewed this topic in January 2022 in the context of growth in hybrid workplace technology. Since then, PE investors have continued to support software and technology-focused companies across the sector. There are many examples of private equity firms acquiring and investing in established players and startups in the smart buildings space. We highlight below some of the recent notable investments in building technology, workplace technology and physical security. Private Equity Acquisitions & Investments Building Technology Installation and Service After an extended bidding war between Bain and Triton, which we covered in the initial stages in our previous article, November 2022, Triton, a European mid-market sector-specialist investor, finally completed the public tender offer for Caverion Corporation, in November 2023, owning 94,39 % of the shares. Caverion is a Finland-headquartered provider of sustainable multi-technical […]