Nasdaq Helsinki Ltd: NOTICE OF THE ACQUISITION OF CONTROL OVER CAVERION PURSUANT TO ARTICLE 28(1) OF DIRECTIVE 2011/61/EU ON ALTERNATIVE INVESTMENT FUND MANAGERS

Crayfish BidCo Oy, Stock Exchange Release, 21 November 2023 at 15:30 p.m. (EET)



On 18 October 2023, Crayfish BidCo Oy announced that it had entered into
conditional share purchases whereby its ownership in Caverion Corporation (the
"Company") would increase to approximately 67.77 percent of the outstanding
shares (excluding treasury shares held by the Company). Such share acquisitions
were registered in the shareholder register of Caverion Corporation on 7
November 2023. 



Crayfish BidCo Oy is indirectly controlled by Triton Fund V L.P., a Jersey
limited partnership, and Triton Fund V SCSp, a Luxembourg special limited
partnership. Triton Fund V L.P. is managed by Triton Investment Management
Limited, a non-EU alternative investment fund manager supervised by the Jersey
Financial Services Commission. Triton Fund V SCSp is managed by Triton
Investments Management SARL, a Luxembourg alternative investment fund manager
supervised by the Commission de Surveillance du Secteur Financier, Luxembourg
(Triton Investments Management SARL together with Triton Investment Management
Limited, the "Fund Managers"). The Fund Managers are required by Directive
2011/61/EU on Alternative Investment Fund Managers (the "AIFMD") to provide
shareholders of the Company with certain information upon obtaining control of
the Company and such information is included in this release. 



Triton Fund V L.P. and Triton Fund V SCSp together indirectly control
92,946,868 shares in the Company, representing approximately 67.77 percent of
all outstanding shares and votes (excluding treasury shares held by the
Company). 



Crayfish BidCo Oy is currently in the process of completing a voluntary public
cash tender offer for all shares in the Company. Based on the final result of
the tender offer announced by Crayfish BidCo Oy on 6 November 2023, 36,414,961
shares, representing approximately 26.57 percent of all issued and outstanding
shares in the Company (excluding treasury shares), were validly tendered in the
tender offer. Together with the 92,946,868 shares already acquired by Crayfish
BidCo Oy during the tender offer, the shares validly tendered in the tender
offer represent approximately 94.39 percent in aggregate of all the issued and
outstanding shares in the Company (excluding treasury shares). The tender offer
is expected to be completed on or about 27 November 2023. 



The Fund Managers maintain comprehensive policies and procedures designed to
prevent and manage actual or potential conflicts of interest which may arise in
the context of its investments and to ensure that any agreements the Fund
Managers have with investee companies are concluded at arm's length. The Fund
Managers have informed the Board of Directors of the Company of its policy for
external and internal communication relating to the Company in particular as
regards employees. 



Identification details of the Fund Managers: Triton Investment Management
Limited, of 5-6 Esplanade, 1st Floor, St Helier, Jersey, Channel Islands, JE2
3QA, and Triton Investments Management SARL, of 2, rue Edward Steichen, L-2540
Luxembourg. 



Identification details of the Alternative Investment Funds: Triton Fund V L.P.,
a Jersey limited partnership, and Triton Fund V SCSp, a Luxembourg special
limited partnership. 



ABOUT TRITON



Triton is one of the leading Northern European investment firms which seeks to
contribute to the building of better businesses for the longer term. Triton and
its executives strive to be agents of positive change towards sustainable
operational improvements and growth. The Triton funds invest in and support the
positive development of businesses headquartered predominantly in Northern
Europe. Triton has a long track record of investing in service businesses, such
as Caverion, across the Nordic and DACH regions.

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