Sordin

November 2023

BUYER

Coeli is a fund of funds based in Stockholm, Sweden. Established in 1994, the firm seeks to invest in venture and buyout funds that are focused on small and medium-sized businesses. It mainly invests in funds that are based in the Nordic region. The firm creates an opportunity that gives investors a means of investing in a diversified portfolio of Private Equity funds within the Nordic Buy-out segment. The assets of the firm are managed by the executive management team.

TARGET

Sordin, founded in the late 1970s, develops, manufactures, and sells hearing active and passive protection devices for various applications such as hunting, tactical and professional, and has a strong foothold in the Nordics and Europe. Through extensive R&D endeavours Sordin has become a technology-pioneer with its leading audio system within hearing protection. Sordin’s product portfolio enhances the user experience through features designed to ease communication and enhance audio while ensuring full protection.

SELLER

Sordin’s management together with investor DeVenture who will remain as minority shareholders in the Company together with Coeli.

DeVenture intends to invest in, support and develop small and medium-sized companies. The company's activities include exploiting the extensive industry experience and strong networks available, enabling small and medium-sized companies to gain a foothold in the industry.

TRANSACTION

An exclusively negotiated transaction.