Caverion has completed the sale of its product business under the Krantz brand in Germany to STEAG Energy Services GmbH announced on November 27, 2017. The sale will become effective on December 31, 2017.
Krantz employs approximately 220 people and its revenue was approximately EUR 45 million in 2016.
Divestment is in line with Caverion’s new strategy and transformation towards service business, whereas the product business is not Caverion’s core business.
Caverion will report the capital gain from the divestment under other operating income in its 2017 financial statement release on February 7, 2018.