Acquisition of DomusVi alongside ICG and SRS
FR
SP
Sycomore Corporate Finance acted as financial advisor to DomusVi and its management
Under PAI’s ownership, DomusVi has transformed from a French nursing home operator into a European leader which operates, as of March 2017, 336 facilities for an average number of 29,829 beds. The Groups is present in all areas of elderly care including Alzheimer and Parkinson units, home care and also operates mental care units in Spain.
Rationale
DomusVi, created in 1983, is one of the leading provider of services to elderly people. It provides a full range of services to 42,000 residents and customers with 315 nursing homes, 16 residential facilities, 5 mental care facilities and 50 home care agencies throughout France, Spain and China. The Group employs more than 28,000 people.
ICG is a specialist asset manager with over 28 years’ history. ICG manages €23.8 billion of assets in third party funds and proprietary capital, principally in closed end funds. ICG’s strategy is to grow the firm’s specialist asset management activities to deliver increased shareholder value. ICG’s goal is to generate income and consistently high returns whilst protecting against investment downside for its fund investors. ICG seeks to achieve this through its expertise in investing across the capital structure. ICG combines flexible capital solutions, local access and insight with an entrepreneurial approach to give the firm a competitive edge in its markets. ICG operates across four asset classes – corporate, capital market, real asset and secondary investments. In addition to growing existing strategies, ICG is committed to innovation and pioneering new strategies across these asset classes where the market opportunity exists to deliver value to its fund investors and increase shareholder value.
SRS is a family holding dedicated to the healthcare industry. Founded in 1983 by Yves Journel, the firm has invested in nursing homes, private clinics and home care as well as in related real estate. With over 40,000 beds and 35,000 employees, SRS portfolio companies offer a full range of health care services including medical and surgical as well as rehabilitation and elderly care. Other than DomusVi, the company’s main assets include stakes in Almaviva, the No. 5 player in French private hospitals, Elivie, a large French home care provider and Groupe Sedna Santé, a provider of nursing homes in Canada and market leader in Quebec.