EQT Said to Weigh IPO of $5 Billion Pest Control Firm Anticimex
EQT Said to Weigh IPO of $5 Billion Pest Control Firm Anticimex
(Bloomberg) -- EQT AB, the European private equity firm, is considering an initial public offering of pest control business Anticimex, people familiar with the matter said.
The buyout firm is in talks with advisers about a potential listing of Stockholm-based Anticimex as soon as next year, the people said. EQT may seek a valuation of at least $5 billion for the business if it decides to proceed, according to the people, who asked not to be identified because the information is private.
Morgan Stanley, Deutsche Bank AG and Swedish lender SEB AB are expected to have roles on any IPO, the people said. EQT may also consider a sale of Anticimex, one of the people said.
No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, the people said. Representatives for EQT, Deutsche Bank, Morgan Stanley and SEB declined to comment.
EQT is seeking to bring some of its large businesses to market to take advantage of a revival in investor appetite for IPOs. The private equity firm is also speaking to potential advisers about a listing of German enterprise software developer SUSE, which could be valued at about 5 billion euros ($5.9 billion), Bloomberg News reported last week.
Europe’s equity capital markets have been busy in the past few months. Companies from Polish e-commerce platform Allegro.eu SA to the U.K.’s THG Holdings Ltd. have achieved high valuations and posted strong performances since their listings.
Anticimex, which was founded in 1934, operates in 18 countries and has more than 6,000 employees and around 3 million customers. The private equity firm bought the business in 2012 and has expanded it through more than 200 acquisitions. Anticimex revenue has nearly quadrupled and its operating profit has increased by six times under EQT’s ownership, according to its website.
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