Eurazeo PME buys Idéal Résidences from LBO France

Eurazeo PME, a subsidiary of Eurazeo focused on mid-cap businesses, acquired a 54% stake in Idéal Résidences' holding company Financière Montalivet from LBO France. The business plans to acquire and set up new establishments in the Paris area following the acquisition. It aims to build up a portfolio of 20 facilities, the GP said in a statement.

Eurazeo had been looking for potential acquisitions in the senior healthcare market, the GP said, and it decided to partner with Idéal Résidences because of its professionalism and track record in bringing failing businesses up to speed.

The company's management said it partnered with Eurazeo because it needed further capital and human support to be able to expand. It said the firm's medium-term vision was a decisive factor as well.

Previous funding
LBO France bought its majority stake in Idéal Résidences from Edmond de Rothschild Investment Partners (EdRIP) and Alliance Entreprendre in 2010. LBO France invested capital from its Hexagone III fund. The funding was aimed at expanding the company to a capacity of around 1,000 beds at the time. 

Company
Idéal Résidences is a group of five assisted-living facilities for the elderly and a post-acute care and rehab centre located in the greater Paris area. The group has 515 beds and generated €27m in revenue in 2012. It is run by its founder Patrice Mayolle. 

People
Emmanuel Laillier, Erwann Le Ligné and Mathieu Betrancourt worked on the deal for Eurazeo. 

Advisers
Equity - Ariane Santé Sociale, Thierry Boval, Agnès Robert (Commercial due diligence); KPMG, Axel Rebaudières, Yoann Lefort, Olivier Hachem (Financial due diligence); RMT, Philippe Torre, Rémi Brasseur (Legal).
Vendor - Rachel Perrichot, Caroline Lacaze (Legal). 

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• Topics
• Buyouts
• France
• Healthcare
• Exits
• France
• Eurazeo
• LBO France
• Secondary buyout