EQT's Sivantos merges with Widex

According to the GP, the enterprise value of the combined entity is estimated at €7bn.

Following the merger, the Tøpholm and Westermann families, founders and owners of Widex, will be the largest individual shareholder in the combined entity. EQT's funds VI, VII and VIII, including co-investors, will also take part in the ownership. 

The board of directors and management will represent both companies, and the new headquarters will be based both in Lynge, Denmark, and Singapore.

The merger is expected to strengthen the market penetration of both companies and enable investments into R&D and supply chain development.

Previous funding
EQT acquired hearing aid manufacturer Sivantos, formerly known as Siemens Audiology Solutions, for €2.15bn from Siemens in November 2014. It owns a 52% majority stake in the company.

Company
Founded in 1956 and headquartered in Lynge, Widex develops and manufactures hearing aids. It employs a staff of 4,250 in 38 countries, and its products are sold in 105 countries. Widex was owned by the Tøpholm and Westermann families, descendants of the founders.

Established in the 19th century in Germany and now headquartered in Singapore, Sivantos was formed through a spin-out from the business operations of the former Siemens hearing aid division. It employs a staff of 5,950 and sells its products in 120 countries. The owners of Sivantos are EQT, along with the Strüngmann family as a co-investor.

People
EQT Partners – Marcus Brennecke (partner).
Widex – Jan Tøpholm (chair).

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• Buyouts
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• EQT