Triton has made a rival offer for Finnish construction systems provider Caverion that valued the takeover target at around $1.17bn.
Triton’s offer of 8 euros per share exceeded a bid of 7 euros announced in November by North Holdings, a Bain Capital-led consortium that had valued Caverion at 955 million euros.
Triton said in a statement on Tuesday it was seeking the support of Caverion’s board for its takeover and hoped to complete the deal in the third or fourth quarter.
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Triton is a private equity investment firm investing in medium-sized businesses in northern Europe.
Bain Capital Credit is a leading global credit specialist with approximately $57bn in assets under management as of March 31, 2022. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies.
In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
Source: Yahoo Finance
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