DELTA has sold Deutsche Fachpflege Holding to Chequers Capital
Investors advised by the Munich based private equity firm DELTA Equity have sold their share in DFH to the private equity firm Chequers Capital. Terms of the transaction were not disclosed.
DFH is the market leader in outpatient intensive care in Germany with expected revenues of more than Euro 87 million in 2013. The Company was founded by a group of private investors in 2011 and capitalized with Euro 60 million. Since then, DFH has actively pursued consolidation in the rapidly growing market for outpatient intensive care in Germany. DFH already successfully integrated seven acquisitions and simultaneously generated organic growth of 27% p.a. in 2012 representing even higher growth rates than the market. Highest quality standards in patient care form the basis for the continued positive development of DFH. Currently, DFH operates with seven operating subsidiaries (“outpatient intensive care providers”), all of which are regional market leaders: BIPG Bundesweite Intensiv Pflege-Gesellschaft mbH, CPD Intensivpflege Claudia Schiefer GmbH, Schäfer Care GmbH, Harald Lober Ambulante Kranken- und Seniorenpflege GmbH, PGS Bayern GmbH, AKB Elke Dodenhoff GmbH and Pflege Daheim GmbH Tag & Nacht.
Christoph Schubert as managing director and CEO of the group remains unchanged and will continue the successful growth course of recent years together with Chequers Capital. Regarding the transaction and the new shareholder, Christoph Schubert said: “Owing to the high quality standards in patient care, we have been operating successfully for a number of years with all our care providers and have a unique position in the industry. Together with Chequers Capital, we will continue with our philosophy of providing the highest quality in care to our patients in order to improve their life situations and to enjoy a high quality of life. In future, we aim to continue along our successful growth trajectory with a focus on building clusters in conurbation areas and the establishment of care groups. Furthermore, we intend to extend our market leadership through additional acquisitions.”
DELTA Equity is a Munich, Germany based private equity firm specializing in Buy-and-Build concepts for the German market. Hereby, DELTA Equity’s focus is on the identification of fragmented markets, most recently aiming healthcare. DELTA Equity will not invest in research-intensive companies or business models with high fixed costs. As Dr. Kai Herold, founder of DELTA Equity, underlines: “Essentially, we are risk-averse investors that invest exclusively in asset-light companies with strong focus on recurring business.”
The French private equity company Chequers Capital is considered a long-term and strategic investor, who is specialized in developing companies in partnership with the management. Chequers Capital has been active in Germany since 2010 and DFH is their fifth investment after Metabo, DTK Deutsche Telekabel, Silver Care Holding (inpatient care) and Cordenka. Funds managed by Chequers Capital have a total capitalization of approx. Euro 1.9 billion.
Lincoln International was mandated by the shareholders of DFH as exclusive M&A advisor for the sales process.
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