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Groupe Schertz sells Audition Conseil et Luz Audio

Paris (France), October 18th, 2022 – Schertz Group has reached an agreement to sell the Audition Conseil brand and the Luz Audio buying center group to the LMCA group (LMC Audio). LMCA is the largest group of hearing aid practitioners operating under the Audition Conseil banner with 80 centers in the South-East of France.

This transaction is part of a consolidation of the French hearing aid market, which is the largest in Europe with total revenues of more than €2bn in 2021 (with average annual growth of +8% over 10 years). It aims to create a vast network of independent local experts and to offer patients a sustainable alternative to the sector’s major international players. This transaction will further strengthen the Audition Conseil network by enabling the centers to combine operational excellence, economic efficiency and decision-making autonomy to serve their patients.

The Schertz Group is a family-owned group that operates in the optical market through its buying center and services, which brings together more than 2,000 independent opticians under the LUZ OPTIQUE banner, and through its own optical stores (37 stores). With the sale of Audition Conseil and Luz Audio, Schertz Group intends to concentrate on developing its optical activities.

“For more than 30 years, the Audition Conseil brand has been able to promote and defend the values of independents. In a market facing major challenges, I have full confidence in the new presidency and in its will to maintain this course, with ambition and responsibility”, explains Jérôme Schertz, General Manager of the Schertz Group.

“At a time when major international players are adopting an integrated and vertical approach to the business, this operation will strengthen the position of independents with a powerful network close to its patients that ensures the freedom to practice in accordance with its values and with all manufacturers,” concludes Stéphane Bardet, founder and president of LMCA

Financière de Courcelles is pleased to have been able to assist and support Schertz Group in the successful outcome and optimization of this transaction. This transaction also demonstrates the ability of Financière de Courcelles’ teams to be a key advisor in the particularly booming market of healthcare brands.

Sell-side Advisors:

FDC (M&A): Henri Mion, Julien Cadiou

Fidal (Legal): Manfred Blot, Christophe Oliveira

iPilote (Finance): Christophe Oswald

Buy-side Advisors:

Jean-David Sultan (M&A)

McDermott Will & Emery (Legal): Herschel Guez, Elodie Pieraggi

Financing : Caisse d’Épargne (CEPAC)

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