Private equity firm Nordic Capital‘s Swedish air treatment group Munters is preparing a stock market listing that could value the business at more than 10 billion Swedish crowns ($1.1 billion) including debt, two people close to the matter said.
Munters held presentations for analysts this week and is likely to publish its intention to float in late April or early May, the sources said, having abandoned a bidding process for the company last year.
Initial public offerings (IPOs) usually take place four weeks after notifying potential investors.
Goldman Sachs and Carnegie are organising the listing as global coordinators with the help of Danske Bank, Nordea, Jefferies and Swedbank, the sources said.
Representatives of Nordic Capital and the banks declined to comment.
Munters is one of the world’s largest makers of climate control systems and one of the sources said it could achieve earnings before interest, tax, depreciation and amortisation of more than 900 million crowns this year and be valued at more than 11 billion crowns including debt.
Nordic Capital took Munters private in 2010, paying 5.7 billion crowns for its shares after a bidding war with Swedish engineering group Alfa Laval.
Since then, Munters has sold a non-core asset to private equity firm Triton and acquired several companies, including Rotem and Reventa, two manufacturers of control systems for farms.