*

IPO could be Sweden's largest in years

*

Company was previously a division of Sweden's Securitas

*

Proceeds used to strengthen balance sheet, fund M&A deal

(Adds detail in paragraphs 2, 8-10)

OSLO, Sept 17 (Reuters) - Switzerland-based security

services firm Verisure said on Wednesday it plans to list on the

Stockholm bourse and raise 3.1 billion euros ($3.7 billion) in

what could be Sweden's largest initial public offering in years.

The group declined to say how much the IPO could value the

company at, adding that it would provide additional information

at a later time.

Verisure, initially a division of Swedish security group

Securitas called Securitas Direct, said it more than

tripled its customer base from 2014 to 2024 and that it still

sees substantial room for growth.

"While we are well-established as the market leader, we are

only just getting started with a long runway ahead," CEO Austin

Lally said in a statement.

The group's revenue increased 10.3% in 2024 to 3.4 billion

euros, with adjusted earnings before interest and tax of 819

million euros, up 24% on 2023.

The company said it intended to use the net proceeds from

the IPO to strengthen its balance sheet by refinancing some of

its debt and to fund its acquisition of ADT Mexico.

As part of the IPO, Verisure expects to raise 235 million

euros from two existing investors, Alba Investments and

Securholds Spain, the company said.

Verisure said the Nasdaq Stockholm exchange had concluded

that the company fulfilled the requirements for a listing,

provided that the IPO transaction is completed as planned.

Full terms and conditions will be included in an IPO

prospectus to be published later, the company added.

Financial advisers on the deal include DNB Carnegie, Goldman

Sachs ( GS ), Morgan Stanley ( MS ), JP Morgan, Merrill Lynch, Barclays ( BCS ), BNP

Paribas, CaixaBank, Nordea, Banca March and Banco Santander,

Verisure said.

($1 = 0.8435 euros)