Danish firm acquires Audigy Group for $151 million

Audigy Group
Left to right: Michael Halloran (CFO), Mason Walker (President) & Brandon Dawson (CEO) of Audigy Group

GN Hearing, dba GN ReSound, a Danish manufacturer of hearing instruments and audiological diagnostics equipments and headsets, has acquired Audigy group, a Vancouver-based member-owned organization that provides business management services to the private practice hearing care industry.

The acquisition agreement, which closed earlier this month, is made up of two components: an upfront payment of $91 million and earn-out payments of up to $60 million, dependent on the company´s financial success going forward.

In a press release, GN Hearing said it plans to “preserve and benefit from” Audigy’s business model and management team, and Audigy will operate as a separate company and subsidiary of GN Hearing’s U.S. business entity.

“Partnering with GN ReSound, a leading, innovative hearing technologies company, willing to invest in and support the independent channel in North America, is a significant compliment for our members and the professionals we serve, and will help us to continue to achieve our mission of impacting independent business owners’ ability to thrive in a consolidating industry,” said Brandon Dawson, who founded Audigy Group in 2004.

A repeat finalist for the VBJ’s Business Growth Awards, Audigy Group has been named in the INC 5000 list on 5 different occasions.

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