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2014-07-15

Altor: Altor Fund III to divest micro acoustic supplier Sonion A/S to international life-science investor Novo A/S

Copenhagen, July 15, 2014: Sonion, a global leader in micro acoustic
technologies for hearing instruments, in-ear earphones and specialty
headsets, today announced that Novo A/S ("Novo"), the holding company
in Novo Group, has entered into a definitive purchase agreement with
Altor Fund III ("Altor") for all the shares in Sonion. The
acquisition enables Sonion to further focus on maturing new
technologies, which will help customers, develop even better hearing
devices.

Since the acquisition of Sonion by Altor in 2009, Sonion has made
significant investments in R&D - doubling the R&D headcount and
initiating several long term research initiatives aimed at maturing
new technologies to help hearing instrument manufacturers solve some
of the key challenges in hearing enhancement and hearing instrument
comfort.

"During Altor Fund III's five year ownership period, Sonion has
succeeded in positioning itself as the innovation leader within micro
acoustics for hearing instruments" Søren Johansen, Partner at Altor
Equity Partners (the investment advisor to the Altor Funds) says. "We
are proud of this achievement and are proud to have worked alongside
such talented group of people. With Novo on board as the new majority
owner Sonion is very well positioned to capitalize on the many
exciting growth opportunities that the Company has positioned itself
for".

"We are enthusiastic about working with Novo as a long term owner of
Sonion. Novo has a long and successful track-record in managing R&D
intensive companies and with their support we will be able to further
emphasize our R&D efforts to develop better products for our
customers" Jørn Mørkeberg, CEO Sonion says. "The large companies
owned by Novo are highly professional, successful and innovative life
sciences companies that represent the highest standard in quality,
compliance and corporate responsibility, values which are important
to both Sonion and our customers".

Acquiring Sonion, provides Novo a position in the global hearing
health industry - an industry which carries a strong Danish heritage,
and today has three of the World's top-6 brands headquartered in
Denmark.

"Through Sonion, we look forward to partnering with the World's
hearing instrument manufacturers to continue the development of
improved hearing instruments for hearing impaired people around the
world" Eivind Kolding, CEO Novo A/S says. Sonion is a leader within
its industry, and has a strong Danish heritage, which we are proud to
bring back into long-term Danish ownership. We look forward to
establishing a strong relationship with Sonion's experienced
management team and invest together in the future success of Sonion
and its customers".

Closing is expected during second half of 2014 following regulatory
clearance.

For inquiries please contact:

Søren Johansen, Partner at Altor Equity Partners (+45 40 77 76 17)
Tor Krusell, Head of Communications at Altor Equity Partners (+46 70
543 8747)

About Sonion: Sonion is a global leader in micro acoustic and micro
mechanical technologies and solutions for use in hearing instruments,
in-ear earphones and specialty headsets. The company's product range
includes balanced armature receivers, high performance microphones,
telecoils and a number of micro mechanical components. Sonion employs
3,200 people and has offices in Switzerland, Denmark, Netherlands,
US, Poland, China, Philippines and Vietnam. More information can be
found at www.sonion.com

About Altor: Since inception, the family of Altor funds have raised
some EUR 5,8 billion in total commitments. The funds have invested in
excess of more than EUR 3.1 billion in more than 40 companies. The
investments have been made in medium sized Nordic companies with the
aim to create value through growth initiatives and operational
improvements. The aggregated turnover of the current portfolio
companies is more than EUR 20 billion and the companies have more
than 30 000 employees. Among current and past investments are OW
Bunker, Wrist Group, Ferrosan, Eurocater, Haarslev, Aalborg
Industries, Byggmax and Dustin. www.altor.com

About Novo: Novo A/S, the holding company in the Novo Group, is
responsible for the management of the assets of the Novo Nordisk
Foundation, which are currently valued at more than USD 40 billion.
Novo A/S is a private limited liability company fully owned by the
Novo Nordisk Foundation. Besides being the major shareholder in Novo
Nordisk A/S and Novozymes A/S, Novo A/S provides seed and venture
capital to development stage companies and takes significant
ownership positions in well-established companies, within life
science and biotechnology, as well as manages a broad portfolio of
financial assets. For further information visit www.novo.dk

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http://news.cision.com/altor/r/altor-fund-iii-to-divest-micro-acoustic-s...
http://mb.cision.com/Main/2101/9616652/266921.pdf

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