Date
Jan 2019
Region
Canada
Generational Equity is pleased to announce the sale of its client, Okanagan Audio Lab Ltd. to Connect Hearing. The acquisition closed January 24, 2019 and details were not disclosed.
Okanagan Audio Lab Ltd. provides hearing tests, custom ear protection, respiratory fit testing, and other related services to a variety of industrial businesses across British Columbia, Alberta, and Saskatchewan.
Connect Hearing is a wholly-owned subsidiary of global hearing leader Sonova. Headquartered in Victoria B.C., Connect Hearing has 150+ hearing clinics located across Canada and, as part of their overall approach to hearing prevention and protection, also has a long-standing industrial hearing division that they wish to expand and thus the acquisition of Okanagan Audio Lab.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Senior M&A Advisor Ted Rattenberry with support from Vice President Mergers & Acquisitions Chad Comroe, successfully closed the deal. Executive Managing Director Randy Kamin established the initial relationship with Okanagan Audio Lab.
Connect Hearing Managing Director Sandra Fulton states: “At Connect Hearing we offer a full spectrum of hearing testing and solutions, and this extends as well to hearing protection, prevention and education. We believe that as the industry leader in audiological care we have a mandate to not only treat hearing loss, but to actively engage with people early and often to educate and prevent hearing loss – particularly due to preventable noise exposure.
“It is this mandate that led us to expand our portfolio in workplace audiological care with the acquisition of Okanagan Audio Labs, itself a regional leader in workplace audiological care, safety and prevention.”
Gary Sedlick, President of Okanagan Audio Lab, notes: “We saw Connect Hearing as a strong strategic fit and would provide the opportunity to continue the growth of our business and offer additional career advancement opportunities for our staff. Generational Equity and Ted Rattenberry were instrumental in facilitating the transaction and ensuring a positive outcome for Okanagan Audio Lab and Connect Hearing.”
Ian Ward, VP of Business Development for Connect Hearing, adds: “Should the opportunity arise in the future to again work with Generational Equity on M&A activities in the Canadian market I would be pleased to engage with them; I would certainly not hesitate to refer them to my colleagues in the United States and Europe.”
If you would like to learn more about our history of supporting deals in this industry, visit our dedicated Consumer Services page.
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