Swedish family dynasty given IPO boost
Sweden's most famous family dynasty, the Wallenburgs, could be big beneficiaries from its investment in ISS, one of the world's largest facility service providers, after the privately-owned company announced it was considering an initial public offering.
The Wallenburg family owns 55% of ISS, a stake it acquired in May 2005, through its private equity vehicle EQT.
Denmark-based ISS said on Wednesday that it was launching a strategic review that included an IPO. Revenues at ISS in 2009 were DKK69 billion (€9.3 billion), valuing an IPO at €5 billion-€6 billion, according to the Financial Times.
The Wallenburgs' industrial holding company Investor AB reported a fall in net profits to SEK8.3 billion (€883 million) in H1 2010, compared to SEK13.8 billion for the same period last year.
Investor AB, which was founded in 1916, has a net asset value of SEK143 billion and is chaired by fifth-generation Jacob Wallenburg (pictured).
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