EQT Partners to Lead €2B+ Buyout of Siemens Audiology Solutions
November 07, 2014
EQT Partners has entered into an agreement to acquire hearing aid manufacturer Siemens Audiology Solutions from Siemens for an enterprise value of €2.15 billion. Capital for the deal will come from EQT VI, a nearly €5 billion fund that closed in 2011; Santo Holding will participate in the transaction as a minority co-investor. With roughly 5,000 employees, Siemens Audiology Solutions has sold more than 3 million hearing aids over the last 12 months, generating €693 million in revenue in the fiscal year ended September 30. Deutsche Bank, Goldman Sachs and UBS have committed to provide financing.