Private equity firm Hellman & Friedman (H&F) is preparing for the initial public offering (IPO) of security company Verisure, which could be a major event in the European market, according to Bloomberg. Goldman Sachs and Morgan Stanley have been selected as global coordinators for the IPO, as reported by anonymous sources.

The listing of Verisure is seen as a potential catalyst for the European IPO market, which has faced challenges due to recent market volatility. In a related development, the private equity owners of Stada Arzneimittel AG have decided to delay the German drugmaker’s IPO until September, highlighting the cautious sentiment in the market.

There is a possibility that more banks may join the IPO process, although representatives from H&F, Goldman Sachs, and Morgan Stanley have declined to comment on the matter. Earlier this month, H&F was in discussions with banks regarding the Verisure IPO, with Goldman Sachs and Morgan Stanley among those making proposals.

Verisure is considering various European cities for its listing, including London, Amsterdam, Zurich, and Stockholm. The company specializes in monitored security solutions for homes and small businesses across Europe and Latin America, offering products such as video detectors, cameras, smoke barriers, shock sensors, and smart locks.

H&F acquired Verisure in 2011 from EQT AB for approximately 21 billion Swedish kronor ($2.1 billion). Four years later, H&F increased its stake by purchasing Bain Capital's shares, becoming the majority owner. Verisure represents one of H&F's long-term investments, alongside its stake in insurance brokerage Hub International Ltd.

H&F is reportedly aiming to raise at least $1 billion in equity from investors for Hub, which could be valued at around $30 billion. This ambitious target reflects H&F's strategy to capitalize on its investments in high-growth sectors.

As the IPO landscape evolves, the Verisure listing could signal a resurgence in European public offerings, providing a much-needed boost to the market. Investors and analysts will be closely monitoring developments as H&F moves forward with this significant IPO initiative.