Transaction: Acquisitions
Date: July 2014
Deal value: Not disclosed
Process: Exclusive process
Industry: Healthcare and Medtech

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Acquisition of Sonion

FIH Partners advises Novo A/S, the holding company of the Novo Group, on the acquisition of Sonion, a global leader in micro acoustic technologies used for hearing instruments, for in-ear earphones and in specialty headsets, from Altor Fund III.

Sonion is one of the world’s two developers and manufacturers of advanced miniature components and solutions such as balanced armature receivers, high-end microphones and electromechanical components. The Company’s R&D facilities are located in the Netherlands and Denmark and the production sites in Vietnam (2) and the Philippines (1). Sonion is currently employing more than 3,200 people globally and realised 2013 revenue of USD 154m.

Since its spin-out from Pulse Electronics in 2009, Sonion has during Altor’s ownership made significant investments in R&D and realised double digit annual growth rates. Sonion’s strategy for future growth is rooted in its unique acoustics and miniaturisation know-how, leading product development competencies, best-in-class manufacturing capabilities and strong customer relationships.

Novo A/S, the holding company in the Novo Group, is responsible for managing the assets of the Novo Nordisk Foundation, which are currently valued at more than USD 40 billion. Novo A/S is a significant international life science investor, and the controlling shareholder in Novo Nordisk A/S, Novozymes A/S, and Xellia Pharmaceuticals ApS as well as a major shareholder in Chr. Hansen Holding A/S. Besides its large investments Novo A/S provides seed and venture capital to development stage companies and manages a broad portfolio of financial assets.

FIH Partners acted as exclusive financial M&A advisor to Novo A/S on the acquisition.