(Bloomberg) -- Buyout firm EQT AB is considering selling a small part of its ownership in WS Audiology A/S, in a deal that could value one of the world’s largest hearing aid makers at about €7 billion ($7.8 billion) or more, according to people familiar with the matter.
Stockholm-based EQT is working with Goldman Sachs Group Inc. to help identify suitors for part of their 49% stake in the closely-held company, the people said, asking not to be identified as the matter is private. The stake sale could draw interest from other financial investors seeking to get exposure in the sector, the people said.
Deliberations are preliminary and EQT could decide to retain its stake, the people said. Representatives for EQT, Goldman Sachs and WS Audiology declined to comment.
WS Audiology was created in 2019 through the merger of the previous EQT portfolio company Sivantos and Widex, which was owned by the Tøpholm and Westermann families. EQT owns the hearing aid maker alongside the families, the Lundbeck Foundation and Santo Holdings.
With 45 offices globally and research facilities in Europe and Asia, WS Audiology reported €669 million in revenue for the three months ended June 30, a 12% increase over the same period last year, according to its website.
Private equity firms are looking to sell minority stakes in some of their largest investments, amid a tough environment for initial public offerings. Blackstone Inc. is considering selling its minority stake in British outsourced marketing provider HH Global, which could value the business at around £2 billion to £2.5 billion ($2.7 billion to $3.3 billion), Bloomberg News reported in July. Hg is weighing options for French software company Septeo, including a minority stake sale that may value the business at as much as €4 billion.
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