Cherry Tree Advises Hearing Components (d/b/a ComplyFoam)

Cherry Tree Advises Hearing Components (d/b/a ComplyFoam)

In July 2023, the owners of Hearing Components (doing business as Comply) sold the company to CEO Chris Hudson and an investor group. Hearing Components was owned and founded by Robert and Dee Oliviera, who originally purchased the intellectual property from 3M in 1990.

Cherry Tree was engaged to help the owners evaluate their strategic alternatives, which included seeking parties that would maximize the proceeds for a foundation they started, while also protecting the culture of the Company, supporting growth initiatives, and continuing to provide excellent products to its customers. Cherry Tree advised the Company through a process that included introductions and discussions with numerous potential industry and financial acquirers, soliciting proposals, negotiating terms, supporting due diligence, and facilitating the closing of the transaction by ultimately striking a deal with the management team and an investor group they formed. Chris Hudson’s experience and vision for the future of the business as well as his shared value and commitment to all stakeholders, made him the ideal steward for the Company.