Divestiture • Electrical Equipment

Altor Equity Partners Acquires Sonion

On June 25, 2009, private equity firm Altor Equity Partners acquired electrical equipment company Sonion from Pulse Electronics

Acquisition Context
  • This is Altor Equity Partners’ 1st transaction in the Electrical Equipment sector.
  • This is Altor Equity Partners’ 5th transaction in Denmark.
Investment Fate
  • Sonion was sold to a consortium of financial buyers in 2014.

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M&A Deal Summary

Date June 25, 2009
Target Sonion
Sector Electrical Equipment
Buyer(s) Altor Equity Partners
Sellers(s) Pulse Electronics
Deal Type Divestiture

Target Company

Sonion

Roskilde, Denmark
Sonion is a development, manufacturing, and sale of advanced micro acoustical and micromechanical components and solutions. The company is a B2B provider for global manufacturers of hearing instruments, mobile handsets, headsets, earphones, and medical devices. Sonion was formed in 1974 and is based in Roskilde, Denmark.
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Buyer Overview 1

Buyer

Altor Equity Partners

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 8.3B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Altor Equity Partners is a private equity firm that looks to principally invest in medium-sized Nordic based companies across a broad range of industries. Altor typically seeks control positions when investing. Prospective companies generally have revenues of €50 to €500 million. Broad areas of interest include healthcare services, electronics, technology, financial services, business services, niche manufacturing, capital equipment, software, marine, consumer products, and communications. Altor Equity Partners was formed in 2003 and is based in Stockholm, Sweden.


Deal Context for Buyer #
Overall 30 of 99
Sector: Electrical Equipment 1 of 2
Type: Divestiture 3 of 6
Country: Denmark 5 of 12
Year: 2009 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-19 Carnegie Investment Bank

Stockholm, Sweden

Carnegie is a Nordic independent investment bank with strong positions in equities research, brokerage, corporate finance advisory, asset management and private wealth management. Carnegie Investment Bank was founded in 1803 and is based in Stockholm, Sweden.

Buy kr1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-12 PaloDEx Group Oy

Tuusula, Finland

PaloDEx is a leading manufacturer of analogue and digital dental imaging equipment, both for extra-oral (?panoramic?) and intra-oral (?single tooth?) applications. It also produces computed radiography ?CR? systems for indirect digital image capture and supplies image management software. The company has approximately 360 employees and is headquartered in Tuusula, Finland

Sell €276M

Seller Profile 1

SELLER

Pulse Electronics

San Diego, California, United States

Category Company
Founded 1947
Sector Electronics
Employees10,000
Revenue 355M USD (2013)
DESCRIPTION

Pulse Electronics Corporation is a electronic components partner that helps customers build the next great product by providing the needed technical solutions. Pulse Electronics has a long operating history of innovation in magnetics, antennas and connectors, as well as the ability to ramp quickly into high-quality, high-volume production.


Deal Context for Seller #
Overall 1 of 2
Sector: Electrical Equipment 1 of 1
Type: Divestiture 1 of 2
Country: Denmark 1 of 1
Year: 2009 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-09 Sonion

Roskilde, Denmark

Sonion is a development, manufacturing, and sale of advanced micro acoustical and micromechanical components and solutions. The company is a B2B provider for global manufacturers of hearing instruments, mobile handsets, headsets, earphones, and medical devices. Sonion was formed in 1974 and is based in Roskilde, Denmark.

Buy $385M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-02 Doduco

Pforzheim, Germany

Doduco designs and manufactures a broad range of electrical contact materials and related products including rivets, stamped and brazed assemblies, and over-molded components. The company also refines precious metals and provides electroplating services. Doduco was founded in 1922 and is based in Pforzheim, Germany.

Sell €33M