Add-on Acquisition • Medical Products

Sivantos Acquires TruHearing

On April 6, 2018, Sivantos acquired medical products company TruHearing from Sorenson Capital

Acquisition Context
  • This is Sivantos’ 1st transaction in the Medical Products sector.
  • This is Sivantos’ 1st transaction in the United States.
  • This is Sivantos’ 1st transaction in Utah.

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M&A Deal Summary

Date April 6, 2018
Target TruHearing
Sector Medical Products
Buyer(s) Sivantos
Sellers(s) Sorenson Capital
Deal Type Add-on Acquisition

Target Company

TruHearing

Draper, Utah, United States
TruHearing, Inc. is a provider of discounted hearing aids that partners with health plans to provide deep discounts to health plan members. Over 100 million people—nearly one-third of all Americans—have access to affordable hearing aids because their health plan offers them TruHearing. And that number is growing every year. TruHearing was founded in 2003 and is based in Draper, Utah.
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Buyer Overview 1

Buyer

Sivantos

Munich, Germany

Category Company
Founded 1878
Sector Electronics
DESCRIPTION

Sivantos Group is a global hearing aid manufacturer. Sivantos was founded in 1878 and is based in Munich, Germany.


Deal Context for Buyer #
Overall 2 of 2
Sector: Medical Products 1 of 1
Type: Add-on Acquisition 2 of 2
State: Utah 1 of 1
Country: United States 1 of 1
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-26 audibene

Berlin, Germany

audibene GmbH offers online service for hearing aids.

Buy -

Seller Profile 1

SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Lehi, Utah.


Deal Context for Seller #
Overall 15 of 30
Sector: Medical Products 1 of 1
Type: Add-on Acquisition 9 of 16
State: Utah 7 of 13
Country: United States 14 of 29
Year: 2018 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 Paperspace

Brooklyn, New York, United States

Paperspace is a cloud platform for building and scaling AI applications. The company's customer use cases include deploying LLMs, fine-tuning Foundation Models, building the next ChatGPT, harnessing generative media, and many more. It helps individuals and businesses to explore new models with Notebooks, automate training with Workflows, and bring their applications to life with Deployments. Paperspace was founded in 2014 and is based in Brooklyn, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-17 Pluralsight

Draper, Utah, United States

Pluralsight is a provider of technical skill development solutions. The Company's cloud-based technology learning platform provides a broad range of tools, including skill assessments, a curated library of courses, learning paths, and business analytics. Pluralsight was formed in 2004 and is based in Draper, Utah.

Sell -