IK-backed Colisée bolts on STS Grup

The company plans to use the fresh capital to further strengthen its market position in Europe in the nursing home and homecare services segments.

Colisée also refinanced its debt facility by raising a new term loan B (TLB) of €120m in order to increase its financial capabilities and continue to pursue a buy-and-build strategy in Europe. The loan ranks pari passu with the €300m TLB facility raised to finance the IK's acquisition of Colisée in April 2017, Unquote understands.

IK Investment Partners bought Bordeaux-based retirement home operator Colisée from Eurazeo. To finance the investment, the GP deployed capital from its IK VIII Fund, which held a final close on its €1.85bn hard-cap in November 2016. A consortium of banks comprising BOI, CACIB, CIC and ING provided a debt package to support the Colisée transaction.

Since IK Investment's acquisition, Colisée has grown both organically and through buy-and-build acquisitions, adding 24 nursing facilities and 2,198 beds, according to a company statement. The group now operates 114 nursing home facilities and 70 homecare agencies in France, Italy and Spain. 

Company
Founded in 1995 and based in Terragona, STS operates six nursing facilities with approximately 600 beds and offers homecare services in Catalonia.

People
Colisée Group – Christine Jeandel (CEO).

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• Topics
• Portfolio management
• Refinancing
• Southern Europe
• France
• Healthcare
• IK Investment Partners
• Spain
• France
• Buy-and-build