Ardian Private Debt arranges unitranche financing supporting the acquisition of EMVIA Living by Chequers Capital
Investment underlines Ardian’s further expansion of its direct lending activities in Germany
Frankfurt, October 26, 2017 – Ardian Private Debt, a divison of Ardian, the independent private investment company, announced today that it has provided a Unitranche financing supporting Chequers Capital (“Chequers”), in their acquisition of EMVIA Living, a leading operator of care homes in Germany. The financing also includes an additional committed debt facility to further support the company’s expansion plans.
EMVIA Living, established through a carve-out of the operating business comprising 46 stationary care homes from MK-Kliniken AG, is an independent private company based in Hamburg and Berlin. EMVIA Living has a capacity of around 5,500 beds to service people in need of care and has around 3,200 employees. With c. €200 million in revenues, the company is one of the leading players in its sector in Germany. The company is managed by Markus Speckenbach as CEO.
Mark Brenke, Managing Director & Co-Head Ardian Private Debt, said: “We are delighted to be supporting the management team and Chequers who have a strong track record of investing in Germany’s care home sector. EMVIA Living has a long and well-established market presence as one of the leading private nursing home operators in Germany, leveraging its broad and diversified network of individual homes as well as its deep regional market knowledge. EMVIA is well-positioned for continued growth and Ardian Private Debt is very pleased to be the company’s financing partner”.
Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$65bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.
Ardian maintains a truly global network, with more than 470 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 610 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.
ABOUT CHEQUERS CAPITAL
Chequers Capital is one of the leading European private equity houses, focusing on leading companies across all business sectors and has completed a large number of investments in the healthcare sector in several European countries. Chequers‘ previous investment in the stationary care industry was the acquisition of Silver Care. Under the ownership of Chequers the number of operated care homes of Silver Care more than doubled within four years, and was recognised as the quality leader among the large operators in the sector three years in the row based on the public quality rating system of MDK.
- TOM JAMES
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