Hellman & Friedman appointed Goldman Sachs and Morgan Stanley as global coordinators for the initial public offering of Verisure, a move that could mark one of Europe’s largest listings in recent years.

The IPO is expected to provide a much-needed boost to Europe’s sluggish listings market.

Additional banks may join the IPO syndicate, though representatives from Hellman & Friedman, Goldman Sachs, and Morgan Stanley have declined to comment. Potential listing venues under consideration include London, Amsterdam, Zurich, and Stockholm.

Verisure is a leading provider of monitored security systems, serving residential and small business customers across Europe and Latin America. Its product range includes video detectors, cameras, smoke barriers, shock sensors, and smart locks.

Hellman & Friedman and Bain Capital initially acquired Verisure from EQT in 2011 in a deal valued at $2.1bn. Hellman & Friedman later became the majority shareholder in 2015 after buying out Bain’s stake.

The move comes as Hellman & Friedman manages two of its longest-held investments, Verisure and insurance brokerage Hub International. The firm is currently seeking to raise at least $1bn in equity for Hub International as part of a potential transaction that could value the company at $30bn.

With Verisure advancing toward a public debut, the IPO will serve as a significant test of investor appetite for private equity-backed listings in Europe.