Key Takeaways
- • CVC Capital Partners is considering a bid to take Verisure private, roughly one year after Hellman & Friedman floated the Stockholm-listed security provider at a €13.7bn valuation, according to the Financial Times.
- • Verisure's shares have fallen approximately 30% below their October 2025 IPO price, creating a potential entry point for CVC, per the FT report.
- • H&F remains the largest shareholder with a stake of around 44%, meaning any formal approach would require its engagement.
- • CVC's interest is described as preliminary, with no certainty that a formal offer will emerge.
- • The situation underscores broader exit challenges for PE-backed IPOs, including HBX Group, which has fallen from its €11.50 IPO price to below €8.
Summary
CVC Capital Partners is considering a bid to take European home security provider Verisure private, just one year after rival buyout firm Hellman & Friedman (H&F) floated the business in Stockholm at a €13.7bn valuation, according to a report by the Financial Times. The interest is reportedly preliminary, and there is no certainty that a formal offer will emerge.
Verisure's shares have fallen approximately 30% below their October 2025 IPO price, which the FT report frames as a potential acquisition opportunity. H&F remains the company's largest shareholder, holding a stake of around 44%. Verisure, headquartered in Switzerland, provides residential security and alarm monitoring services. It was established as part of Sweden's Securitas group in 1988 before being acquired by H&F and Bain Capital from EQT in 2011 for €2.3bn. H&F later acquired Bain's stake in 2015.
The potential transaction highlights the difficulties facing private equity-backed IPOs, where higher interest rates and market volatility have weighed on valuations and constrained exit options. Several recently listed portfolio companies have underperformed, including Cinven-backed travel marketplace HBX Group, whose shares have fallen from an IPO price of €11.50 to below €8. By contrast, EQT's 2024 listing of pharmaceutical products company Galderma has been a notable exception, generating approximately $26bn in proceeds for its fund and co-investors following its exit this year.
Private equity firms have increasingly targeted listed European businesses trading at discounted valuations. Recent transactions include KKR's £4.7bn acquisition of UK scientific instruments manufacturer Spectris and the £2.7bn take-private of fund services group JTC by Permira and CPP Investments.
Verisure's shares have fallen approximately 30% below their October 2025 IPO price, which the FT report frames as a potential acquisition opportunity. H&F remains the company's largest shareholder, holding a stake of around 44%. Verisure, headquartered in Switzerland, provides residential security and alarm monitoring services. It was established as part of Sweden's Securitas group in 1988 before being acquired by H&F and Bain Capital from EQT in 2011 for €2.3bn. H&F later acquired Bain's stake in 2015.
The potential transaction highlights the difficulties facing private equity-backed IPOs, where higher interest rates and market volatility have weighed on valuations and constrained exit options. Several recently listed portfolio companies have underperformed, including Cinven-backed travel marketplace HBX Group, whose shares have fallen from an IPO price of €11.50 to below €8. By contrast, EQT's 2024 listing of pharmaceutical products company Galderma has been a notable exception, generating approximately $26bn in proceeds for its fund and co-investors following its exit this year.
Private equity firms have increasingly targeted listed European businesses trading at discounted valuations. Recent transactions include KKR's £4.7bn acquisition of UK scientific instruments manufacturer Spectris and the £2.7bn take-private of fund services group JTC by Permira and CPP Investments.
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