Waterland sells SLG to Medica

The transaction was all-cash, according to Medica, and was valued at €180-190m by French publication Capital Finance. The deal will raise Medica's bed capacity to 22,600, a third of which will be placed outside of France.

Waterland founded SLG in 2004 to execute a buy-and-build strategy with the aim of creating a leading provider of long-term care in Belgium, due to an apparently fragmented market at the time.

Company
Founded in 2004, SLG is headquartered in Kontich and currently employs 3,000 staff. The company generated revenues of €183m for 2012.

SLG provides long-term care in Belgium, predominantly in Flanders. The company currently operates almost 5,500 beds across 47 facilities.

People
Jacques Bailet is the chairman and CEO of Medica, while Bart Bots is the CEO of SLG. Frank Vlayen is a managing principal at Waterland.

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• Topics
• Benelux
• Exits
• Healthcare
• Belgium
• Waterland Private Equity
• Trade sale