ICG's DomusVi to bolt on Residalya

Previous backer Ackermans & van Haaren, a Belgian investment company, will sell its stake in HPA, the holding company of Residalya.

Founded in 1983 and headquartered in Paris, DomusVi manages private nursing homes in France, Spain, Portugal and China, focusing on elderly care. The business operates 300 senior residential homes, 60 agencies proving support services to elderly people living at home and 18 psychiatric clinics. Employing 30,000 people and totalling around 55,000 clients, according to the company's website, the business generated revenues of €1.3bn in 2017.

Previous funding
DomusVi was first acquired by private equity in 2003, when Equistone Partners Europe bought the business for an estimated €100m. A year later, Equistone sold the business in a management buy-back. Subsequently, French large-cap PE house PAI Partners acquired a majority stake via its Europe VI fund in 2014. The deal valued the business at €639m, according to PAI's website.

PAI subsequently sold its controlling stake in DomusVi in 2017 to London-listed asset management firm ICG and the French family holding Sagesse Retraite Santé (SRS), an investment vehicle controlled by DomusVi's founder, Yves Journel. ICG invested from its €3bn ICG Europe Fund VI vehicle, Unquote understands; the fund closed in 2015. 

DomusVi's most recent bolt-on prior to Residalya was the Basque player Sarrikue Group in Q3 2018. 

Company
Founded in 2005 and based in Paris, Residalya is a network of 35 nursing homes and senior residential homes with 2,630 beds located throughout France. The group has 1,700 employees and generated €120m in revenues in 2018.

People
Residalya – Hervé Hardy (founder, general manager).

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• Intermediate Capital Group