Cramo to spin off Adapteo

Cramo will separate its modular space business Cramo Adapteo through a partial demerger. The spin-off is expected to take place in mid-2019.

The announcement comes after a previously announced strategic review of the Adapteo business. Under a partial demerger Cramo would retain a shareholding in the spun-off business, although Cramo has not said what’s its stake is likely to be.

Adapteo reported revenues of €127 million in 2017 and EBIT profits of €29 million. It provides temporary space for schools, day care centres, offices and accommodation, as well as events, exhibitions, shops and other applications.

Public sector business accounts for around 65% of its revenues, with construction projects making up just 8% of revenues.