Verisure seeks Stock Exchange listing in Stockholm
In a significant move, Verisure, the Swedish-Swiss security services provider, has announced its plans to go public on the Stockholm Stock Exchange. The Initial Public Offering (IPO) is expected to generate €3.1 billion in proceeds, making it the largest in Europe in the last three years, according to Bloomberg data.
Founded in 1988 by the Swedish security conglomerate Securitas, Verisure has come a long way since its inception. Over the past decade, the company has more than tripled its customer base and reported a 10.3% increase in revenue to €3.4 billion in 2024. Additionally, its adjusted earnings before interest, taxes, and amortization (EBITDA) surged by nearly a quarter to €819 million in the same year.
The IPO will include new shares, with two existing investors, Alba Investments and Securholds Spain, contributing €235 million to participate. The financial investor Hellman & Friedman and Bain Capital, who have also been backing Verisure, will also be contributing a total of €235 million.
The net proceeds from the IPO will be used to finance various business activities, including acquisitions and debt refinancing. One such acquisition is the planned purchase of rival ADT Mexico. The net proceeds will also be used to strengthen Verisure's balance sheet by refinancing debt.
Verisure's CEO, Austin Lally, expressed his enthusiasm for the future, stating, "While we are the market leader, we're just getting started and have a lot of potential." He sees further growth opportunities for the company and believes the IPO will provide the necessary funds to capitalise on these opportunities.
The IPO is a significant step for Verisure, which has seen steady growth over the years. With its strong financial performance and ambitious plans for expansion, the company is poised for continued success in the security services industry.
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