Cavotec sells the Airports business to the American investment company Fernweh Group

Cavotec AG

Cavotec SA has signed an agreement to sell 100% of its airport business to US investment firm Fernweh Group LLC for an implied enterprise value of approximately €16 million, and an approximate net worth of €10 million. euros, plus an additional deferred value of approximately 16 million euros. 3 million if certain considerations are met. The transaction is part of Cavotec’s previously communicated decision to focus in the growing markets for sustainability solutions in ports and maritimes and industry and is expected to close by summer 2022. Airports accounted for approximately 25% of Cavotec’s revenues in 2020. As a result of the transaction, the publication of Cavotec’s interim report from January to December 2021 will be postponed until March 30, 2022.

“As market trends and regulatory requirements are expected to drive significant growth in demand for shore power, automated mooring, and port and industry electrification, we have decided to focus our resources and investments in these areas to further strengthen our position and accelerate our growth, and we believe our airport employees, customers and partners will benefit significantly from the attention Fernweh will bring,” said Mikael Norin, CEO of Cavotec.

“We are excited about the opportunity to acquire the Cavotec Airports business and look forward to working with management to continue to build the business. The acquisition is an integral part of Fernweh’s investment thesis and will provide a strategic platform on which to build a major airport ground handling equipment franchise,” said Nick Santhanam, CEO of Fernweh Group.

Other financial information
On March 5, 2021, Cavotec communicated its decision to concentrate its resources and invest in the port and maritime and industrial markets. Consequently, a process has been initiated to sell the Airports business. From the first quarter of 2021, Cavotec therefore carried over the Ports & Maritime and Industry activities of the Group, united under the name of New Cavotec. Airports were reported separately.

Following the transaction, the airports will be reported as an entity held for sale in the 2021 annual accounts. A process has therefore been initiated to reflect all effects on Cavotec’s 2021 annual report.

Delayed publication of the interim report January – December 2021
The fact that the airports will be declared as an entity held for sale means that Cavotec, according to IFRS, will have to make the necessary adaptations to the annual accounts and the interim report from January to December 2021. Cavotec will therefore delay the publication of the interim report of February 25. 2022 to March 30, 2022.

Continued development of Cavotec in the fast-growing markets of ports & maritimes and specialized industrial applications
The decision to focus Cavotec on the fast-growing ports and marine and specialty industrial applications markets is the result of a strategic assessment in 2021, with in-depth market analysis of electrification and efficiency trends as well as a increased focus on sustainability solutions. With an expected accelerated adoption of electrification and automation solutions in thousands of ports around the world and for millions of industrial assets, Cavotec has the opportunity to strengthen its market leadership position by focusing on its basic products such as shore power, automated mooring, reels, electric charging for commercial vehicles as well as its wide portfolio of services to support its customers.

Through this strategic shift, Cavotec hopes to advance its position to enable a cleaner, safer and more efficient future world by providing cost-effective sustainability solutions for port and maritime and industrial applications.


For more details, please contact:

John Hahnel
Investor Relations Manager
+46 70 605 63 34; [email protected]

This is information that Cavotec SA is required to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the contact person listed above, at 9:40 p.m. CET on February 22, 2022.

About Cavotec

Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by over 40 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide. Learn more about