Alantra advises Armira on the acquisition of PflegeButler

May 2021

Buy-side advisory

Frankfurt – Alantra is pleased to announce it has advised Armira on the acquisition of PflegeButler Häusliche Pflege mit Stil GmbH and PflegeButler Nord GmbH (together “PflegeButler“), a privately held German provider of care services for the elderly. Alantra acted as exclusive M&A and Debt advisor to Armira, a holding group focused on investment tickets ranging from €20mn to €200mn in market-leading “Mittelstand” businesses in the DACH-region.

Founded in 2007, PflegeButler with headquarters in Friedeburg, Lower Saxony is an elderly-care operator offering ambulatory care through a combined service of assisted living and day care. The company has grown steadily in recent years and currently has a capacity for approximately 600 assisted living patients in 10 facilities. PflegeButler has a concrete expansion plan, with 8 facilities in the pipeline, which are expected to double its capacity and reach more than 1,200 apartments by 2023. The acquisition of PflegeButler will serve as a platform for further growth in the elderly care services market.

The acquisition is backed by a senior-secured financing package, provided by Deutsche Apotheker- und Ärztebank, DZ BANK and NIBC. The debt package includes term loans, a revolving credit facility and a capex/acquisition facility.

“We would like to thank Armira for their trust to support on this flagship transaction and we are convinced they are a great match together with the founder of the Company for a fruitful long-term relationship.” Christopher Jobst, Managing Director in M&A at Alantra’s Frankfurt office comments.

Maximilian Rohardt, Managing Director in Debt Advisory at Alantra’s Frankfurt office continues: “We are delighted to have worked with Armira in advising on the debt raise to support their investment in PflegeButler and to provide flexibility for further add-on acquisitions. The quality of the underlying business and strategic plans of Armira and management underpinned a strong credit story.”