Axa PE ups stake in Genesi Uno
AXA Private Equity is to acquire Unicredit’s 40% stake in Holding di Investimenti in Sanità e Infrastrutture (HISI), the holding company of hospital construction firm Genesi Uno, increasing its overall shareholding to 80%.
The remaining 20% stake is held by Techint Group, an Argentinian-Italian multinational comprising more than 100 businesses in engineering, construction, mining, oil and gas, industrial plants and healthcare.
The GP will work with Techint to grow the company organically and implement a buy-and-build strategy. Axa PE acquired its intial stake in HISI in 2007.
Company
Genesi was awarded a 28-year mandate to design, build and operate a 550-bed hospital in Legnano, Lombardy. Construction began in 2006 and took four years to complete.
The company now provides non-medical services to the hospital, including cleaning, special waste management, maintenance, security, green space management, laundry and cleaning.
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