August 30th, 2020

We are pleased to confirm that on August 30th, 2020, EQT announced that the EQT Infrastructure V fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire a majority stake in Colisée (“Colisée” or the “Company”) owned by IK Investment Partners.

Established in 1976, Colisée is a leading operator of nursing home facilities and homecare services for elderly. The Company, which is headquartered in Paris, France, has developed a geographical footprint and operates 270 nursing homes as well as assisted living facilities and home care services agencies across France, Belgium, Spain and Italy. Colisée employs more than 16,000 people and has a turnover exceeding EUR 1 billion.

Colisée’s long-term development is supported by strong secular trends, such as an aging European population and an increased shift to privately managed elderly care. Colisée’s high focus on care and resident well-being is a key attraction in a sector where EQT Infrastructure has extensive experience.

Following the closing of the transaction, EQT Infrastructure will support the continued development of Colisée and its pursuit of new growth opportunities in current and new markets, drawing on EQT’s global footprint and extensive network of advisors. Moreover, EQT will support Colisée in further developing the Company’s social responsibility and sustainability ambitions.

The investment in Colisée is in line with EQT’s thematic approach guided by the United Nations Sustainable Development Goals, specifically SDG 3, “Good health and well-being” and SDG 11, “Sustainable cities and communities”.

Christine Jeandel, President of Colisée, said: “With the EQT teams, Colisée will continue its development project at the service of elderly people in line with its core values. This move is a great opportunity to continue to position Colisée as sustainable key player in the market, with social responsibility at the heart of its mission.”

Ulrich Köllensperger, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, said: “EQT Infrastructure has followed Colisée for a long time and we are deeply impressed by Christine Jeandel and her management team’s achievements in successfully creating a leading platform in the elderly care sector. Colisée constitutes a truly thematic investment in social infrastructure, a sector where EQT has a proven track record of owning and developing strong companies.”

Thomas Rajzbaum, Managing Director at EQT Partners, Investment Advisor to EQT Infrastructure and Head of EQT’s French Infrastructure Advisory Team, added: “Colisée provides essential services to society and truly makes a positive impact in the communities in which it operates. The Company’s core values and ESG approach are strongly in line with EQT’s and we look forward to continue building on Colisée’s renowned focus on high service quality and well-being for its residents.”

The acquisition of Colisée is EQT’s first investment in France following the opening of the Paris office in June 2020, and EQT Infrastructure’s second investment after the French water services management company SAUR.

The transaction is subject to the consultation process or information of the Employee Representative Bodies, as well as antitrust and potential foreign investment clearances.

With the acquisition of Colisée, EQT Infrastructure V will be 5-10 percent invested based on its target fund size. No decision has been made to date regarding the termination of the commitment period of EQT Infrastructure IV and the first fee date of EQT Infrastructure V.

In the context of the transaction, Sycomore Corporate Finance acted as financial advisor to EQT Infrastructure.

The Sycomore transaction team comprised Olivier Barret, Tristan Dupont and Aurélien Singer.