19 December 2007, Frankfurt - The European private equity investor HgCapital has acquired a majority share in CASA REHA Group, one of the leading operators of retirement and care facilities in Germany, from Advent International and the firm’s management.
The transaction is pending the approval of the cartel authorities.
To ensure shareholder continuity, both Advent International and the management of CASA REHA will continue to hold a stake in the firm. Financial details of the transaction were not disclosed.
Headquartered at Oberursel, CASA REHA was founded in 1995 by Covenant Care International Inc. The first retirement home was put into operation in 1996. With 48 facilities nationwide and some 7,000 beds, CASA REHA is Germany's fifth largest private operator of nursing homes.