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.
Verisure’s shares have fallen approximately 30% below their October 2025 IPO price, creating a potential acquisition opportunity for CVC. H&F remains the company’s largest shareholder, retaining a stake of around 44%.
CVC’s interest reportedly remains preliminary, with no certainty that a formal offer will emerge.
Verisure, headquartered in Switzerland, provides residential security and alarm monitoring services. The business 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 subsequently acquired Bain’s stake in 2015.
The potential transaction highlights the challenges facing private equity-backed IPOs, with higher interest rates and market volatility weighing on valuations and limiting exit opportunities.
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.
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.
Meanwhile, 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.
