Nordic Capital backs German care home operator Alloheim

Alloheim

Nordic Capital has backed Germany’s second-largest care home group Alloheim, investing from its Nordic Capital Fund VIII.

The financial details of the transaction were undisclosed, but Reuters reports that the deal values at Alloheim at €1.1bn, including debt.

The deal is a tertiary buyout. The business originally received backing from Star Capital in 2008, which then sold the company to Carlyle Group in 2013.

Alloheim offers nationwide care services to a range of age groups in stationary care homes, assisted living locations and via ambulatory services.

The company opened its first site in 1973. It now employs around 14,500 medical professionals and staff and provides care to 20,000 residents.

According to Reuters, Alloheim has Ebitda of €88m and is said to have attracted interest from a range of suitors, including ICG portfolio company DomusVi, Ares and Fosun.

The business has expanded rapidly under private equity ownership. When Star first invested the company had 13 facilities and 1,500 beds.