Auditdata A/S announced that GRO Capital has acquired 46% of the company and become the main shareholder in the global independent provider of audiology solutions.
Auditdata reports that with accelerated growth in recent years, the company sees the need for increased focus on the sales and marketing activities to be able to reach its goal of becoming a world leading independent provider of innovative audiology solutions.
“We are thrilled to invite GRO Capital onboard our quest to become a global leading independent provider of audiology solutions,” said Claus Bak Petersen, Auditdata founder and CEO. “Our recent growth requires strengthening of our sales and marketing functions as we see great potential in not only the existing, but also new markets for our current and upcoming products.”
“Founded as a software house, we have the understanding and the skill set needed to keep engineering innovative solutions compatible to meet the needs of an increasingly digitalized industry,” Petersen explained. “We believe we are ahead of our competition with the advanced convergence of our hardware and software.”
GRO Capital noted that it is excited to partner up with Auditdata and support the company’s competent management in fulfilling their ambition of creating a preeminent independent provider of audiology solutions by providing capital and knowledge. “GRO Capital sees significant global growth and market penetration potential, and we believe Auditdata’s software-driven approach will help change the dynamics of the industry,” said Morten Weicher, partner at GRO Capital.
Auditdata is a Danish manufacturer of diagnostic instruments and clinic management solutions for hospital hearing care clinics and private practices. The product range covers both standalone and pc-based audiometers, fitting systems, and accessories. Established in 1993, Auditdata has offices in the UK and US, and headquarters in the Copenhagen area in Denmark. Auditdata is privately held and has 75+ dedicated employees.
GRO Capital provides capital and knowledge to high-quality technology enabled companies with growth ambitions. Through active ownership, the objective is to develop and grow the companies GRO invests in. GRO Capital targets knowledge intensive sectors and looks to identify companies with leading positions, high growth potential, and strong management. GRO Capital has raised DKK 1bn with target equity investment sizes of around DKK 50-200m. GRO Capital was founded in 2014 with Danica as sole investor.
Source: Auditdata A/S, GRO Capital