Kromann Reumert advises on combination of Widex and Sivantos

The two hearing aid groups, Widex and Sivantos, announced the combination of their businesses on 16 May 2018. The agreement sets the total value of the combined business at more than DKK 52 billion.

Widex and Sivantos are both global players in the hearing aid industry. The merger will make the group one of the three biggest manufacturers in the industry, with a worldwide staff of over 10,000 and annual revenues of DKK 12 billion.

Throughout the process, Kromann Reumert has served as legal lead advisors to Widex and the two founder families (the Westermann and Tøpholm families).

Sivantos, formerly the hearing aid division of Siemens, was acquired by private equity fund EQT in 2015 and is now headquartered in Singapore.

Christian Lundgren, who served as responsible partner together with Jakob Hans Johansen on the case, says:

"We are proud to have advised Widex and the owners on this transaction, which serves to illustrate our philosophy of working very closely together with the client to ensure the best and most value-adding solution. It was a truly global transaction, involving multiple jurisdictions, and our task – drawing on our international experience and expertise and with respect for the values that were important to the owners of Widex – was to make sure everything came together and to advise the owners and the management.”

Closing of the combination is subject to regulatory approvals.