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STAR Capital Partners announces the sale of the Alloheim Group

14 August 2013

STAR Capital Partners (“STAR”) announces the signing of a definitive agreement for the sale of Alloheim Senioren-Residenzen (“Alloheim” or “Company), a leading provider of residential care for the elderly in Germany to The Carlyle Group.

STAR had identified residential care as an attractive opportunity in Germany due to the demographic and socio-economic trends driving long-term demand for care in the well-funded German market. The German care home market is characterised by significant fragmentation and the investment in Alloheim created a strong platform from which STAR could drive value creation through a combination of acquisitions and new build activities.

Having recruited some of the leading managers in the sector, STAR and management then identified and acquired the business in 2008 which, at that time, comprised 13 facilities totalling c.1,500 beds and c.250 assisted living apartments across Germany. With the financial and operational support of STAR, Alloheim today operates 49 nursing homes, with approximately 6,000 beds and more than 4,000 employees providing a full range of nursing home services, i.e. stationary care, ambulatory care, assisted living and specialised nursing care. As a result of this investment, EBITDA has grown at a CAGR of c.35% since 2008 and the company is consistently recognised for the quality of its care.

The sale is subject to regulatory approval. STAR was advised by Rothschild for M&A advice and Arqis for legal advice.