Capvis buys Tertianum Group

Capvis invested from Capvis Equity V, its 2017-vintage buyout fund, which closed in September 2018 on €1.2bn. The vehicle targets companies with an enterprise value of €100-500m.

Swiss Prime Site announced that it was seeking a buyer for the company in August 2019 and considered options including trade buyers, family offices and private equity firms. Capvis was the final successful bidder from the auction process.

The deal is set to close in the first half of 2020.

Capvis plans to broaden the group's service offering, following the transaction.

Swiss Prime Site will continue to own 16 of the properties in which Tertianum operates. The company acquired it in 2012 and has since increased its residences from 20 to 80. It also made add-on acquisitions to broaden the group's service portfolio.

Company
Headquartered in Zürich, the Tertianum group owns a number of care home and assisted living facilities. The group operates 80 residential care home centres and employs 4,700 staff. It reports an EBIT of CHF 30m and revenues of CHF 500m.

People
Tertianum Group – Luca Stäger (CEO).

Advisers
Vendor – EY (financial due dilligence); Lenz & Staehlin (legal).

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• Capvis AG
• healthcare