Caverion to sell parts of its Industry operations to Elcoline Oy based on the conditions imposed on the Maintpartner transaction
Caverion Corporation Investor news 26 June 2020 at 9.00 a.m. EEST
Caverion to sell parts of its Industry operations to Elcoline Oy based on the conditions imposed on the Maintpartner transaction
Caverion has signed an agreement to sell certain Finnish operations of Caverion Industria Ltd to Elcoline Oy based on the conditions imposed on the Maintpartner transaction by the Finnish Competition and Consumer Authority (the "FCCA"). The buyer is a Finnish, internationally operating provider of industrial maintenance that has approximately 300 employees before the transaction.
According to a stock exchange release published by Caverion on 22 November 2019, the FCCA approval on the Maintpartner transaction included certain conditions based on which Caverion was to divest approximately 6.5 percent of the post-transaction revenue (approximately EUR 300 million in 2018) of the Industry division in Finland.
The business transfer covers total outsourcing agreements in industrial services mainly with customers in chemical and energy industries. Furthermore, the sale includes Caverion’s marine industry unit and industrial maintenance service centers acquired as part of the Maintpartner transaction in Turku, Pori, Rauma and Oulu in Finland.
The business transfer is expected to be completed during autumn 2020. The transaction value will not be disclosed.
For more information, please contact:
Elina Engman, Executive Vice President, Caverion Industry, tel. +358 50 351 4673, elina.engman@caverion.com
Martti Ala-Härkönen, Chief Financial Officer, Caverion Corporation, tel. +358 40 737 6633, martti.ala-harkonen@caverion.com
Milena Hæggström, Head of Investor Relations and External Communications, Caverion Corporation, tel. +358 40 5581 328, milena.haeggstrom@caverion.com
Our life is shaped by the environments we build around us. By making built environments smart and sustainable, Caverion enables performance and people’s well-being. Customers can trust our expert guidance during the entire life cycle of their buildings, infrastructure or industrial sites and processes: from design & build to projects, technical and industrial maintenance, facility management as well as advisory services. Our customers are supported by over 16,000 professionals in 11 countries in Northern, Central and Eastern Europe. Our revenue in 2019 was approximately EUR 2.1 billion. Caverion’s shares are listed on Nasdaq Helsinki.
Caverion - Building Performance
www.caverion.com @CaverionGroup