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).
Want to get the latest family business/family office news direct to your desktop? Click here to register to receive our weekly newsletter
Are you a member of a multigenerational family business or family office? Click here to subscribe to our magazines