Alantra advises Groupe Philogeris on the sale of three nursing homes to Bridge

Sep 2021

Sell-side advisory

Paris – Alantra, the global investment banking and asset management specialist, announced that it has advised Groupe Philogeris, a manager of elder care nursing homes throughout France, on the sale of three residential care facilities to Bridge, an independent group of nursing homes. The three facilities sold (Résidence Bois la Rose, Bastide de Mont Vinobre and Résidence Les Cèdres) are located in the regions of Normandy, Auvergne-Rhône-Alpes and Ile-de-France, respectively. They generated cumulative revenues of €11 million in 2020.

Groupe Philogeris is headed by Yann Reboulleau and manages approximately 20 retirement homes through three different models: (i) its own retirement homes, (ii) retirement homes and senior residences operated on behalf of its partner, 123 Investment Managers, and (iii) public-private partnerships. This sale allows Philogeris, a boutique committed to the comfort and well-being of its residents, to refocus on its remaining portfolio of residences and promote the development of new projects.

Founded in 2017 by Charles Memoune, Bridge completed a €180 million fundraising round last June. The acquisition of these residential elder care facilities results in the addition of 245 beds to Bridge’s portfolio and represents the first major external growth operation following the reorganization of its capital and financial structure.

This is the third transaction Alantra has completed for Groupe Philogeris—including the 2017 owner buyout, led by the CEO, and the sale of a portion of its real estate assets to Pierval in 2020—and highlights Alantra’s expertise in the healthcare sector. Over the past three years, Alantra’s French team has completed 18 transactions focused on residential care & clinics and consumer healthcare.

“We are proud to have assisted Philogeris for the third time, demonstrating the trust placed in us once again by the group. Completing 18 transactions in the sector over the last 24 months illustrates Alantra’s expertise in European care services,” says Franck Noat, Partner at Alantra.