Alantra advised Quadriga Capital on the sale of DOREA Group to Groupe Maisons de Famille

Dec 2018

Sell-side advisory

Alantra has advised Dorea Beteiligung S.à r.l. on the sale of DOREA Holding GmbH (“DOREA”), a leading German nursing care operator, owned by funds advised by Quadriga Eigenkapitalberatung GmbH (“Quadriga”), to Groupe Maisons de Famille (“MdF”) for an undisclosed amount. The transaction is subject to customary merger control approval. Established in 2015, DOREA has demonstrated a very successful acquisition and integration track record with a total of 23 acquisitions. As the fastest growing nursing care operator in Germany, the company currently operates 58 care facilities with approximately 5,500 beds and provides outpatient care services to approximately 900 senior citizens.

After advising on the recapitalization of DOREA in 2017, Alantra was also selected as the M&A Alantra advised the company and its shareholders. The transaction was led by Alantra’s Frankfurt office in close cooperation with senior members of the firm’s European Healthcare Services sector team from France, Belgium and Sweden. The German deal team orchestrated a limited sale process, inviting only selected European strategic buyers and selected financial sponsors with in-depth knowledge of the healthcare services sector.

“The successful sale of DOREA is another example of our seamless integration of deal team members across several offices. In addition, this transaction marks nursing home transaction #15 over the last three years as well as the fifth transaction with Quadriga in the last two years emphasizing our strong sector knowledge and trust received from repeat clients,” commented Wolfram Schmerl, Managing Partner at Alantra Germany.

“Thanks to our strong European Healthcare Services platform and in-depth knowledge of the nursing care sector, we were able to engage and focus on the most relevant parties and minimize disruptions for management during the process” added Christopher Jobst, Director Healthcare in Alantra’s Frankfurt office.

“The creation of DOREA is a great success story for the funds advised by Quadriga Capital Eigenkapitalberatung GmbH. Together with DOREA’s CEO, Axel Hölzer, one of the top 15 private nursing care operators in the German market has been established within less than three years. Alantra’s deep sector knowledge, strong industry relations and high commitment by the entire Alantra deal team throughout the sale process proved to be strong contributors to the successful outcome of this transaction.” remarked Dr. Alexander Friedrich, Partner at Quadriga Capital Eigenkapitalberatung GmbH. Quadriga is specialized in organizing majority acquisitions of medium sized growth companies to support their internal and external growth. With a longstanding track record dating back to 1990’s, more than 120 investments in 4 target sectors, Quadriga Capital has a unique network in the German-speaking region and neighbouring countries. MdF belongs to Creadev, the strategic and long-term investment arm of the Mulliez family which runs worldwide leading operators in various service industries in 35 countries. MdF operates 84 care facilities in France, Italy and Spain with a total of 10,950 beds.