Linklaters has advised on a financing by the Assemblin Caverion Group (a portfolio company of Triton) which included €1.3 billion high yield notes and €495 million (equivalent) RCF/guarantee/pensions facilities.
The Assemblin Caverion Group is one of the Nordic region’s leading providers of smart and sustainable installation and service solutions, with its primary activities focusing on electrical engineering, heating & sanitation, ventilation and smart buildings & automation, as well as key competencies in data & telecoms, industrial pipes, district heating, cooling, sprinklers, security and green technology solutions.
The transaction provided the long-term financing for the combination of Assemblin and Caverion, which Triton took private earlier this year, and is one of the few new-money bond deals so far this year that finance primary M&A.
Linklaters previously advised Triton on a number of high yield and loan financings for Assemblin and Caverion, including the Assemblin’s inaugural bond in 2019, the bond financing the tack-on acquisition of Fidelix in 2021, the company recapitalisation in connection with a continuation fund transfer in 2023, and the Caverion P2P loan financing.
The transactions were led by partners Alek Naidenov and Tom Waller.
