CPE News (9/24/2020) – EQT Infrastructure V, with co-investment from Caisse de dépôt et placement du Québec (CDPQ) and in partnership with management, has acquired a majority stake in Colisée from IK Investment Partners.
Established in 1976, Paris based Colisée is a leading operator of nursing home facilities and homecare services for elderly. The company operates over 270 nursing homes as well as assisted living facilities and home care services agencies across France, Belgium, Spain and Italy. Colisee employs more than 16,000 people and has annual revenues of over €1 billion.
The transaction is subject to regulatory approvals. Financial terms of the transaction were not disclosed.
IK Investment Partners acquired Colisée in July 2017 from Eurazeo PME and the Teycheney Family, with Eurazeo receiving €236 million in proceeds.
photo credit: Colisée
CDPQ co-invests with EQT in Colisée, a European leader in elderly care
Infrastructure Montréal, September 24, 2020
CDPQ’s investment alongside EQT Infrastructure V (EQT Infrastructure, majority shareholder) and Colisée’s management team will enable the company to consider new growth opportunities, including in new markets, while consolidating its high-quality care and services offering.
Headquartered in Paris, Colisée currently operates more than 270 nursing home facilities as well as home care services agencies, mainly in France, Belgium, Spain and Italy. In addition to nursing home facilities, Colisée has diversified its offering to provide more services to help the elderly. The company employs more than 16,000 people and has annual revenues of over €1 billion.
This stake is the culmination of talks with Colisée management that began in 2019 and is part of CDPQ’s enhanced infrastructure investment strategy in Europe. As a long-term investor, CDPQ will support Colisée in its development plan, which takes into account major trends such as the aging population and growing demand for elder care services.
“For CDPQ, this acquisition represents a significant investment in health care infrastructure, an essential sector where needs are growing and where Colisée is well positioned,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “Colisée’s excellent track record in terms of quality of care and resident well-being is a crucial element of this partnership, and is consistent with our ESG approach.”
“With the support of a long-term investor like CDPQ, Colisée will continue developing its elder care services. CDPQ shares common values with our company, and social responsibility is at the heart of its mission,” stated Christine Jeandel, President of Colisée.
“EQT Infrastructure is proud to have the participation of a high-quality partner such as CDPQ for this investment in social infrastructure, a speciality area for EQT. With CDPQ’s investment alongside EQT Infrastructure, Colisée will benefit from shareholders who can support the group’s strong growth over the long term, said Ulrich Köllensperger, Partner and Thomas Rajzbaum, Managing Director at EQT Partners and investment advisors at EQT Infrastructure.
The transaction is subject to regulatory approvals. The financial terms of the transaction were not disclosed.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
Colisée is a key player in the global health care and old-age dependency sector, and has developed a real expertise in elderly people care and well-being. Its network includes 270 facilities in France, Belgium, Spain and Italy. Colisée employs more than 16,000 people. For more information: www.groupecolisee.com.
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For more information: www.eqtgroup.com. Follow EQT on LinkedIn, Twitter, YouTube and Instagram.
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