OHRWERK

Hannover / Landsberg am Lech, January 2025 – NORD Holding UBG mbH ("NORD Holding") and its fund Deutsche Mittelstandsholding für Industriebeteiligungen II GmbH & Co. KG, advised by NORD Holding, have sold their majority stake in the OHRWERK Group, the leading buy-and-build platform for premium hearing acoustics businesses in Germany, to Demant A/S ("Demant"), a world-leading hearing healthcare group.

The OHRWERK Group was established in September 2020 by NORD Holding together with an experienced management team as a buy-and-build platform in the premium hearing acoustics market. Following the acquisition of the platform, the group expanded through a total of 17 acquisitions and several new openings to become one of the leading independent operators, now with 77 specialist stores across Germany. With a clear focus on premium care and an above-average level of service, OHRWERK is setting new standards in the industry. The brand is considered as an attractive employer and a "Good Home" for hearing acousticians and sellers.

“With Demant, the OHRWERK Group has found the perfect partner for its future success and its employees. Together with the management team, we have created a professional organization to provide patients with excellent hearing care. By selling to Demant, we once again demonstrate our ability as a transformation partner for medium-sized enterprises to create sustainable value and to be a preferred choice for strategic buyers,“ explained Philipp von Mitzlaff, Partner at NORD Holding.

Michael Leuschner and Christian Stengele, CEO and CFO of the OHRWERK Group, added: “We are delighted to have found the ideal partner in Demant for the continued successful development of the OHRWERK Group, one who shares our values and vision for long-term stable growth and high-quality standards. This step confirms the success of our strategy as a provider of top-tier hearing acoustics, which we have shaped together with NORD Holding over the past years.“

On behalf of NORD Holding, the transaction was managed by Philipp von Mitzlaff, David Wössner, and Niklas Thoma.

About OHRWERK

Since its foundation in 2020, OHRWERK has been a leading provider of high-quality patient care with hearing systems and comprehensive support, as well as a trusted platform for acquiring and integrating acoustics businesses. With 77 branches and approximately 280 employees across Germany and a clear focus on high-quality hearing care and personalized service, the brand is setting new benchmarks in the industry. OHRWERK stands for a modern working environment and is appreciated by hearing acousticians and sales professionals as an attractive employer and "GoodHome."

More information is available at: www.ohrwerk-hoergeraete.de

About Demant

Demant is a world-leading hearing healthcare group built on a heritage of care, health and innovation since 1904. The Group offers innovative technologies, solutions and expertise to help people hear better. In every aspect, from hearing care and hearing aids to diagnostic equipment and services, Demant is active and engaged. Headquartered in Denmark, the Group employs more than 21,000 people globally and is present with solutions in 130 countries creating life-changing differences through hearing health. William Demant Foundation holds the majority of shares in Demant A/S, which is listed on Nasdaq Copenhagen and among the 25 most traded stocks.

More informationis available at: www.demant.com