EQT today announced that the EQT Infrastructure V fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire a majority stake in Colisee (“Colisee” or the “Company”) owned by IK Investment Partners.
Established in 1976, Colisee is a leading operator of nursing home facilities and homecare services for elderly. The Company, which is headquartered in Paris, France, has developed a geographical footprint and operates 270 nursing homes as well as assisted living facilities and home care services agencies across France, Belgium, Spain and Italy. Colisee employs more than 16,000 people and has a turnover exceeding EUR 1 billion.
Colisee’s long-term development is supported by strong secular trends, such as an aging European population and an increased shift to privately managed elderly care. Colisee’s high focus on care and resident well-being is a key attraction in a sector where EQT Infrastructure has extensive experience.
Following the closing of the transaction, EQT Infrastructure will support the continued development of Colisee and its pursuit of new growth opportunities in current and new markets, drawing on EQT’s global footprint and extensive network of advisors. Moreover, EQT will support Colisee in further developing the Company’s social responsibility and sustainability ambitions.
The investment in Colisee is in line with EQT’s thematic approach guided by the United Nations Sustainable Development Goals, specifically SDG 3, “Good health and well-being” and SDG 11, “Sustainable cities and communities”.
Christine Jeandel, President of Colisee, said: “With the EQT teams, Colisee will continue its development project at the service of elderly people in line with its core values. This move is a great opportunity to continue to position Colisee as sustainable key player in the market, with social responsibility at the heart of its mission.”
Ulrich Köllensperger, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, said: “EQT Infrastructure has followed Colisee for a long time and we are deeply impressed by Christine Jeandel and her management team’s achievements in successfully creating a leading platform in the elderly care sector. Colisee constitutes a truly thematic investment in social infrastructure, a sector where EQT has a proven track record of owning and developing strong companies.”
Thomas Rajzbaum, Managing Director at EQT Partners, Investment Advisor to EQT Infrastructure and Head of EQT’s French Infrastructure Advisory Team, added: “Colisee provides essential services to society and truly makes a positive impact in the communities in which it operates. The Company’s core values and ESG approach are strongly in line with EQT’s and we look forward to continue building on Colisee’s renowned focus on high service quality and well-being for its residents.”
The acquisition of Colisee is EQT’s first investment in France following the opening of the Paris office in June 2020, and EQT Infrastructure’s second investment after the French water services management company SAUR.
The transaction is subject to the consultation process or information of the Employee Representative Bodies, as well as antitrust and potential foreign investment clearances.
With the acquisition of Colisee, EQT Infrastructure V will be 5-10 percent invested based on its target fund size. No decision has been made to date regarding the termination of the commitment period of EQT Infrastructure IV and the first fee date of EQT Infrastructure V.
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EQT is a differentiated global investment organizationwith more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
Colisee is a key player in the global health care and old-age dependency sector and has developed a real expertise in elderly people care and well-being. Its network includes more than 270 facilities in France, Belgium, Spain and Italy. Colisee employs more than 16,000 people.
More info: www.groupecolisee.com/en