Squair advises the VivaSon group on the financing of its capital restructuring and refinancing

Squair (Blandine Gény) advised the VivaSon group, a French brand specializing in the distribution of hearing aids, on the financing aspects of a major shareholder restructuring operation.

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This transaction involved Clariane (formerly Korian) exiting the capital after five years of partnership, and the strengthening of Michel Touati's stake, the group's President, who now holds over 80% of the capital, alongside Indigo Capital, a new minority financial partner.

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Founded in 2006 and led by Michel Touati since 2008, VivaSon has established itself as a leading player in the hearing aid sector in France, with a network of around one hundred centers primarily based on a franchise model of independent audiologists. The group has experienced strong growth in recent years, marked by a threefold increase in its activity and the beginning of international expansion in Morocco.

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The transaction strengthens the brand's independent and family roots and provides it with the necessary financial resources to enter a new phase of its development, in a rapidly changing sector. It is accompanied by a complete overhaul of the group's financing structure.

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Senior financing was arranged with a banking pool comprising Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile-de-France, acting as coordinator and agent, BNP Paribas, and Caisse d’Epargne et de Prévoyance Ile-de-France. It was supplemented by a PIK unitranche facility subscribed by Indigo Capital, structured in conjunction with its equity investment.