Waterland's Schönes Leben acquires Gut Köttenich

Waterland acquired elderly care home operator Compassio via its new holding company Schönes Leben in late 2017 – the acquisition of Compassio was the first step in Waterland's new buy-and-build strategy in the retirement care sector. At the time, Compassio operated 28 care homes with 3,058 places for elderly people in southern Germany, and generated revenues of around €110m.

With 14 nursing homes at 11 locations, Gut Köttenich will expand the geographic footprint of Schönes Leben, which was mainly present in southern Germany. It can now target further growth in the states of North Rhine-Westphalia and Rhineland-Palatinate.

Waterland provided further equity for the purchase of Gut Köttenich and stated it would look at financing future bolt-ons as well.

Company
Gut Köttenich operates 14 nursing homes in the German districts of Aachen, Düren, Euskirchen and Rhein-Erft-Kreis. Three of the group's care facilities are still under construction and are scheduled to open by late 2019. The Gut Köttenich group's portfolio of services includes inpatient, outpatient and adult day care, with assisted living available at five locations.

People
Waterland Private Equity – Carsten Rahlfs (managing partner).

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• Topics
• Expansion
• DACH
• Healthcare
• Build-up
• Waterland Private Equity
• Germany