European Capital acquires a stake in the holding company of Audika group

19/09/07

 

Audika has announced the entry of European Capital S.A. SICAR, a wholly-owned subsidiary of European Capital Limited, into the capital of the new holding company that owns a 53.9% controlling stake in Audika Group. As a result, European Capital now holds 39% of the company’s capital, with the Group's founding Chairmen, Alain and Jean-Claude Tonnard, holding 55% and their associate Philippe Langzam the remaining 6%.



The number of Audika shares remains unchanged at 9,450,000.

 

«We are delighted to have European Capital on board for this new phase in our Group's growth. In a market with buoyant long-term prospects and which is set to accelerate even further on the back of the demographic impact of the «baby boom», we are convinced that Audika has everything it needs to ensure its dynamic development in France, but also overseas with its first subsidiary in Italy this year» say Alain and Jean-Claude Tonnard, co-chairmen of Audika. «European Capital's international network will be a core factor in our successful development abroad in the years ahead».

 

«We are particularly pleased to be able to play a part in the development of Audika, a leading company in the fast-growing market of hearing correction products and services» adds Jean Eichenlaub, Managing Director of the Paris office of European Capital Financial Services Limited (European Capital Services). «We have set up a tailored financing package to enable the Group's founding chairmen to pursue their development strategy which has proven so successful to date».

 

«Backed by an innovative communications strategy, Audika's unrivalled offer of bespoke hearing aid products and solutions has established the Group as a benchmark reference on its market» adds Jacques Pancrazi, European Capital Services Director. «Its efficient network structure means an operational performance that goes from strength to strength. Moreover, Audika's management boasts unique expertise in the acquisition and integration of independent centers. We are excited to be able to contribute our know-how in accompanying the Group in its ambitious international development plan».

 

Audika Group will publish its Q3 revenues on October 15, 2007 after the close of the markets

 

 

About Audika:

 

With over 340 centersin 80 different regions and a market share of 13%, Audika is the number one network offering hearing correction consulting and solutions in France. Positioned on the market for hearing correction solutions for senior citizens, which is not affected by changes in the economic environment, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. Audika is listed on the Eurolist SMALL 90, segment B.

 

 

About European Capital (Ticker LSE:ECAS):

 

European Capital is a closed-end investment company for pan-European equity, mezzanine and senior debt investments with capital resources of approximately ?2.3 billion ($3.2 billion). European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and public companies headquartered predominantly in Europe. European Capital generally invests between €15 million and €500 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.

 

ISIN FR0000063752-ADI

Reuters DIKA.PA

Bloomberg ADI

Nombre d’actions : 9 450 000

 

If you would like to receive free financial information about Audika by e-mail, go to www.audika.com

 

Audika contacts: Alain Tonnard / Etienne Sirand-Pugnet au +33 (0)1 55 37 30 30

Kaparca Finance contact : Guillaume Le Floch au +33 (0)1 72 74 82 25



KAPARCA FINANCE - 18/09/07