Bain Capital Launches Counteroffer to Triton’s €1.09bn Bid for Caverion

Time Stamp: January 12, 2023 12:49 PM
Source Node: 2512081

Bain Capital, a global private investment firm, has launched a counteroffer to Triton’s €1.09bn bid for Caverion, a leading provider of technical services for buildings and industries in the Nordics, Baltics, and Central Europe. The counteroffer is reportedly worth €1.12bn, which is €30m more than Triton’s offer.

The offer from Bain Capital is part of an ongoing bidding war for Caverion, which began in April when Triton made its initial offer. Since then, several other bidders have entered the fray, including EQT and CVC Capital Partners.

Caverion’s board of directors has welcomed the new offer from Bain Capital and is currently evaluating it. The board has also requested that Triton increase its offer to match the new bid from Bain Capital.

If the deal goes through, it will be one of the largest private equity transactions in the Nordics this year. It will also give Bain Capital a foothold in the region and provide it with access to Caverion’s extensive customer base.

The deal is expected to close in the third quarter of this year, pending regulatory approval. If successful, it will be a major win for Bain Capital and a significant milestone for Caverion, which has been struggling financially since the start of the pandemic.

Overall, Bain Capital’s counteroffer to Triton’s bid for Caverion is an exciting development in the ongoing bidding war. It remains to be seen whether Triton will increase its offer or if Bain Capital will be successful in acquiring the company. Either way, it will be a major event in the Nordic private equity market.