Alantra advises Domidep on the acquisition of a portfolio of Römergarten elderly care homes

Aug 2021

Buy-side advisory

Frankfurt – Alantra, the global investment banking and asset management specialist, has advised Domidep, one of France’s largest private operators of elderly care homes, on the acquisition of Römergarten Senioren-Residenzen GmbH (“Römergarten”). The Römergarten Senioren-Residenzen operation comprises eight elderly care homes with a total of 660 beds, providing a range of services including nursing care, assisted living, and specialized dementia care. The homes, all of which were built within the past three years, are based in affluent areas of southwest Germany.

Domidep operates more than 110 homes in France and Belgium, and now 24 homes in Germany. It generates over €450m in sales and is backed by global investment manager I Squared Capital (“ISQ”). Domidep entered the German market in December 2020 through a platform acquisition of 15 elderly care homes and one assisted living facility operating under the Römergarten brand. Alantra acted as buy-side advisor to Domidep on this transaction and helped to secure the option to acquire eight additional Römergarten homes managed by the selling shareholders.

ISQ is an independent, global infrastructure investment manager focusing on transportation, utilities, energy, social infrastructure, telecoms, and midstream sectors across Europe, North America, and select growth economies in Asia and Latin America. ISQ currently has c. $30.3bn of assets under management and has invested in more than 30 platform companies in its targeted sectors and region, providing essential services to millions of people around the world. Following the acquisition of Domidep in 2019, the Römergarten acquisition further expands ISQ’s footprint and experience in European healthcare.

Pascal Guérin, CEO of Domidep, commented: “With Römergarten, we have found a great platform for continued growth of our elderly care presence in Germany. We are very happy to have successfully expanded our portfolio of Römergarten homes and would like to thank the Alantra team for their advice and their high-level of commitment throughout this follow-on transaction.”

Jens Harder, Managing Director of Domidep Germany, commented: “I am excited to drive the growth and performance of Domidep in Germany. Having spent more than 20 years in the German elderly care sector, I am impressed by the Römergarten assets, with their high number of single rooms and excellent real estate. The Römergarten platform will strengthen Domidep’s position and enable them to develop further in Germany through greenfield projects and M&A.”

Christopher Jobst, Managing Director in M&A with Alantra’s Frankfurt office, added: “We would like to take the opportunity to thank the Domidep team for their trust in Alantra’s execution capabilities and market knowledge. We are happy to have helped Domidep with the continuation of their internationalization strategy.”