Waterland strengthens Schönes Leben by adding Gut Köttenich Group

By on November 15, 2018

Waterland Private Equity has expanded its portfolio company Schönes Leben Group to include Gut Köttenich / Euregio, a care specialist based in the German state of North Rhine-Westphalia. Gut Köttenich Group’s portfolio of services includes inpatient, outpatient and adult day care, as well as assisted living, non-hospital intensive care and meals on wheels.

Following the acquisition of the southern German care specialists compassio in December 2017, Schönes Leben is now expanding into North Rhine-Westphalia, Germany’s most populous state. As a result, the company is taking a further step towards creating an outstanding platform for retirement care, new residential offerings for the elderly and innovative services for people over the age of 65.

“With 14 nursing homes at 11 locations, Gut Köttenich Group is the regional market leader and the perfect addition to the Schönes Leben Group, which has so far maintained a footprint mainly in southern Germany through compassio,” says Marc Hildebrand, CEO of the Schönes Leben Group. “The acquisition gives us a foundation for further growth in the states of North Rhine-Westphalia and Rhineland-Palatinate, plus it brings us one step closer to our goal of becoming the most modern provider of services for older people over the age of 65.” The Schönes Leben strategy is based on the three pillars of care, assisted living and tailored support services for people over the age of 65.

“Looking at the growth development of Schönes Leben this year, where management has already secured several further locations by signing lease agreements for newly built care homes, we now look forward to to include a leading-edge group that encompasses top-of-the-line facilities and three newly constructed locations in North Rhine-Westphalia which will be opened in the next 18 months,” Dr Carsten Rahlfs, managing partner at Waterland, adds. “. We will continue to strategically and financially encourage the growth of Schönes Leben.”

The transaction remains subject to cartel clearance.

About Schönes Leben 

Schönes Leben is a portfolio company of Waterland, an independent private equity investment group. The aim of the company is to create a platform that provides services for people over the age of 65 who would like to make their life more rewarding and varied. The company’s main strategic pillar is retirement care – covered by compassio, a care specialist based in Ulm, Germany. By adding Gut Köttenich Group and further locations already secured through lease agreements, Schönes Leben Group is now expected to grow to over 4,000 beds.

About Gut Köttenich/Euregio

The Gut Köttenich Group operates a total of 14 nursing homes in the German districts of Aachen, Düren, Euskirchen and Rhein-Erft-Kreis. Three of the Group’s care facilities are still under construction and are scheduled to open by late 2019. The Gut Köttenich Group’s portfolio of services includes inpatient, outpatient and adult day care. Assisted living is available at five locations, which allows people requiring care to rent flats designed with the needs of seniors in mind and select from a range of support options, such as meals or laundry services. The Group’s non-hospital intensive care programme looks after patients requiring ventilation therapy outside a clinical setting up to 24 hours a day.

About Waterland

Waterland is an independent private equity investment group that supports businesses in realising their growth ambitions. With substantial financial support and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Munich and Hamburg), Poland (Warsaw), the UK (Manchester) and Denmark (Copenhagen) and currently manages €6 billion in investor commitments.

In addition to the Schönes Leben Group, Waterland maintains investments in other companies in the healthcare sector, where it has extensive expertise. Waterland’s buy-and-build strategy focuses on growth through acquisitions. For example, Waterland developed MEDIAN through 17 acquisitions from the RHM Group. In 2011, the RHM Group managed just under 2,000 beds. Today, MEDIAN manages over 18,000 beds.

Since its founding in 1999, Waterland has consistently achieved top-tier investment performance. It ranks as the number-one global private equity firm in the latest annual HEC/Dow Jones Private Equity Performance Ranking compiled by Prof. Gottschalg of HEC Paris Business School in autumn 2016 and has regularly been among the top three consistently performing buyout fund managers worldwide in the Preqin Consistent Performers in Global Private Equity & Venture Capital Report in recent years.

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