HgCapital exits Casa Reha to Korian in trade sale

The GP stated that during its ownership, Casa Reha opened a number of new homes and increased their occupancy.

Following the exit from Casa Reha, HgCapital has two investments left in its HgCapital 5 portfolio: Achilles, a provider of supplier data management and validation services, in which the GP invested £42m in June 2008; and SFC-Koenig, a fastening systems and sealing plugs company, which HgCapital acquired together with Capvis for approximately €325m in July 2008.

The GP currently invests from its seventh fund, which reached its £2bn hard-cap in April 2013.

Previous funding
In December 2007, HgCapital acquired a majority stake in Casa Reha Group from Advent International and management for an undisclosed amount. Advent had acquired the asset in an SBO from JP Morgan Partners and German Equity Partners in 2005.

In 1999, Chase Capital Partners and German Equity Partners invested €15m in Casa Reha, acquiring a minority stake. The majority of Casa Reha's equity was held by its US parent group Covenant Care, itself an investee of Chase Capital Partners. In 2001 the financial investors acquired a joint majority stake in the company via a capital increase.

Company
Founded in 1995 and based in Oberursel, Casa Reha's current portfolio consists of 70 nursing homes with more than 4,000 employees and 10,000 residents.

People
Yann Coléou is CEO of Korian. Humayun Kabir is CEO of Casa Reha. Philipp Schwalber is a director at HgCapital.

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• Topics
• DACH
• Exits
• Healthcare
• Germany
• Trade sale