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© Sivantos Electronics Production | May 30, 2018

Sivantos and Widex to merge – creating a hearing aid powerhouse

EQT funds, the owners of Sivantos, and the Tøpholm and Westermann families, which are the owners of Widex A/S, have agreed terms to merge the two companies.
With this merger the companies aims to create a global hearing aid leader generating combined revenues of approximately EUR 1.6 billion and employing more than 10’000 people worldwide. The transaction values the combined entity at an enterprise value of more than EUR 7 billion, a press release reads.

The merger aims at accelerating growth, strengthening market penetration and enhancing efficiencies to enable additional investments into R&D and supply chain.

The combined R&D resources include approximately 800 specialists in R&D centers located in Singapore, Erlangen (Germany) and Lynge (Denmark) with more than EUR 100 million in annual R&D spending. The R&D centers will continue to develop, and innovation is said to be accelerated to bring more products to markets faster, to regularly update and develop technology platforms and address more types of hearing disabilities.

Once the transaction is completed, the combined entity will be owned by EQT funds (EQT VI, EQT VII and EQT VIII), including co-investors, as well as the Tøpholm and Westermann families of Denmark. The new headquarters will be based in Lynge (Denmark) and Singapore.

The Tøpholm and Westermann families, founders and owners of Widex, will be the largest individual shareholder in the combined entity reflecting their long-term commitment to the company.

The transaction is subject to regulatory approvals and other customary closing conditions. Until closing, the merger will have no effect on employees, customers or suppliers.
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December 13 2018 1:08 pm V11.10.14-1