Transaction

Clearwater advises Sagesse Retraite Santé on its reinvestment in DomusVi alongside ICG and management to significantly increase its stake

Transaction

Sagesse Retraite Santé on its reinvestment in DomusVi

Buy-side

Undisclosed

Role

Adviser to SRS on its reinvestment in DomusVi alongside ICG and Management

Sector

Real Estate
Healthcare

Region

France

Clearwater has advised Sagesse Retraite Santé (SRS), one of France’s leading investors in the health and medico-social sectors, on its reinvestment in DomusVi, alongside ICG and management.

As part of this transaction, one of the largest LBOs in France, SRS, which is majority-owned by Yves Journel, raises €333m from its historical partners Macif, Arkea Capital Partenaire et Bpifrance and from French institutional and industrial investors Mérieux Equity Partners, Flandrin Finance, UI Investissement, Roullier, Stags. The management, led by its chairman Sylvain Rabuel, has reinvested in the transaction.

SRS is a major player in the private health and medico-social sectors in France. Its vocation is long-term investments in healthcare companies in order to support them in their national and international development and to strengthen their leadership. SRS is today the majority shareholder, or the significant minority shareholder alongside financial investors, in companies with a cumulated turnover of nearly €3bn and more than 50,000 employees, mainly DomusVi, Almaviva Santé, Sedna France, Sedna Canada and Arenadour. SRS’s investments are spread over the entire care pathway for vulnerable people. SRS brings its industrial expertise and its experience in the healthcare professions acquired over the past 40 years in order to contribute to their growth. The SRS team is composed of: Yves Journel, Board Chairman of SRS, Sandrine Avelange, President of SRS and Pierre Chabaud, Chief Investment Officer of SRS.

Founded in 1983, DomusVi is one of the leaders in caring for people made vulnerable by age or illness in eight different countries: France, Spain, Portugal, Ireland and the Netherlands and in Latin America thanks to innovative services, places and therapies that preserve their quality of life and their social relationships. With more than 425 nursing homes, more than 70 senior residences, psychiatric hospitals and dedicated centres, and more than 80 homecare agencies, DomusVi offers a full range of services to more than 70,000 residents and customers in Europe and Latin America. DomusVi brings together more than 40,000 employees in the service of operational quality and customer satisfaction around the world, driven daily by their business values.

The reorganisation of DomusVi's capital, led by its historic shareholders ICG and Yves Journel, allowing the latter to strengthen its share in the Group's capital, will give management time and resources to achieve its ambitions, more specifically to position itself as a key player and contributor for the adaptation of our societies to the great challenge of ageing.

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I am strengthening my strategic stake in DomusVi with the support of French investors in the social economy assured by the group's mission, skills and ambition. The Clearwater team, that has advised me for almost 20 years, has enabled us to bring together our historical partners and new French institutional and industrial investors who share our vision and our convictions on the future of the market and the group.

Yves Journel, Board Chairman, Sagesse Retraite Santé
brad7dots A doctor talking to a patient in hospital a6e07313 2ebd 471e 9bfe 2c8f6f6c9224 1

We are very pleased to have supported SRS and its founder Yves Journel since the beginning of the 2000s through development transactions, reorganisation of capital or the entry of investors which have enabled the group to become one of the leaders of the reception, help and care for vulnerable people. This new structuring transaction allows SRS to give DomusVi the necessary means to achieve its strong development ambitions.

Nicolas Saint-Pierre and Laurent Camilli, Managing Partners, Clearwater

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