NEWS & VIEWS

Global private equity and venture capital news and research

EQT, Goldman-backed ISS nears €4bn market cap in IPO

13 Mar 2014

Danish facilities servicing company ISS has priced its shares at DKK160 ($29.81) per share, giving the company a market cap of DKK29.6bn (€3.97bn).

This is in the middle of its previously announced range of DKK140 to DKK175, and earlier this week the company reported “very strong demand” from investors for the IPO.

The company is backed by EQT and Goldman Sachs, which bought it for €3bn in 2005. Subsequently, Teachers Private Capital partnered with the investment holding company of the Lego family to buy a €500m stake in August 2012.

The proceeds from the listing will be used to pay off debt, ISS said.

ISS was the subject of an aborted  £5.2bn takeover by outsourcing giant G4S in November last year. it also previously explored listing plans back in 2011, but decided against it due to unfavourable public markets.

Morten Hummelmose, member of the ISS Board of Directors and partner at EQT, said, “We take the strong support from both retail and institutional investors as a testimony to the current strength of ISS and what the company has achieved while being privately owned. We have enjoyed supporting management in the establishment of a global leader in facility services and we are proud of the development of ISS during our ownership. We welcome the many new shareholders to ISS and we are very much looking forward to continuing to support ISS as we will remain major shareholders following the IPO.”

 Jeff Gravenhorst, ISS Group CEO, added. “During the last few weeks we have received very positive feedback from investors. I am extremely proud and pleased that ISS is announcing a very successful pricing of our Initial Public Offering and I am delighted that so many investors have decided to invest in ISS. I would like to thank our new shareholders, both in Denmark and internationally, for the interest, trust and support that they have shown us. Together with my 533,543 colleagues who have helped create the foundation for our success, I welcome them to ISS. We remain deeply committed to deliver on our ambitious plans and we are excited about this new phase in ISS’ history.”

Further details of the offering can be found here.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS

Keywords: , , ,


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014