Goldman plans to float Danish cleaning firm
ISS, the world’s largest cleaning-service provider, may soon be listed.
• Nordic private equity investments boom
• Skype plans $100-million flotation on Nasdaq
ISS, a Danish facility services group owned by Goldman Sachs and EQT Partners, may be listed at the stock exchange, it said in its second quarter report Wednesday.
In 2005 the company was bought by a consortium of Sweden’s private equity group EQT Partners -- controlled by the influential Wallenberg family -- and US investment firm Goldman Sachs Capital Partners for 21.85 billion Danish kroner ($3.71 billion). The company was delisted from the Copenhagen Stock Exchange.
Now its looking to make a comeback.
“ISS Holding A/S has decided together with its shareholders to initiate a strategic review process which includes considering an initial public offering”, it wrote.
Goldman Sachs and Morgan Stanley have been appointed to assist in the review. Rothschild is acting as adviser to ISS and its shareholders.
“ISS does not expect to publicly disclose additional information regarding the status of the process, including the options available, their likelihood or possible timing, until the review has been completed,” the company said. “There can be no assurances that any particular course of action will be pursued nor of what the timing will be.”
Copenhagen-based ISS is one of the world's leading facility services groups, with services such as cleaning, catering, office support, property service, security and facility management. The company is operating in more than 50 countries around the world.
The company’s net loss fell to 112 million kroner in second quarter, compared with a 673 million-krone loss in the same period a year earlier. Second-quarter sales rose 7.3 percent to 18.6 billion kroner.
Last Updated (Wednesday, 25 August 2010 09:56)





