Waterland Private Equity exits SENIOcare

Waterland Private Equity has sold its stake in Swiss nursing home operator SENIOcare to Swiss Prime Site AG. No financial terms were disclosed. Credit Suisse and Bär & Karrer provided advice to Waterland on the transaction.


Munich/Düsseldorf, August 27, 2015 – Waterland Private Equity sells its stake in the Swiss nursing home operator SENIOcare. Swiss Prime Site AG, which is already active in the segment “Assisted living” with its subsidiary Tertianum group, assumes control of SENIOcare as a strategic investor. The acquirer expands its previous focus on assisted living with the growth area of stationary care. The purchase price has not been disclosed.

Jörg Dreisow, Managing Partner of Waterland and responsible for the DACH region, welcomed the transaction: “We have actively supported the successful business development of SENIOcare in the last three years and founded together with the company a strategic and financial basis for accelerated growth. The interest of a strategic investor with a complementary business model proves that SENIOcare is on the right track.”

Waterland took over SENIOcare in autumn 2012 with the aim of expanding the firm’s market leadership in the Swiss nursing home market. With respect to the demographic change, one of its central investment objectives, Waterland was and still is invested in stationary care, nursing homes and hospital facilities in different countries. Hence, the investor can on the one hand side draw from broad experience, while also facilitating a know-how transfer between its investments.

In respect of organic and acquisitive growth, the past three years have been marked by intensified initiatives at SENIOcare. First, an improvement of processes and profitability has been initiated, allowing for example the certification of all facilities by sanaCert, a first of its kind for a private group in Switzerland. In addition, an ambitious organic growth pipeline was secured, increasing the company’s capacities by about 50 percent until 2019.
The new owner plans to continue this program. Further, an acquisition of a facility was undertaken as a first step of an inorganic growth strategy. For this, the company’s financing structure was customized, thus creating additional room for future growth.

The SENIOcare group was created in 1983 and currently operates in eight cantons 29 residential and nursing homes comprising 1,128 nursing beds and 214 assisted living apartments in the upscale segment. The company employs approximately 1,200 persons and is the leading private provider of professional personal care in Switzerland.

Credit Suisse and Bär & Karrer advised Waterland on the sale of SENIOcare.

About Waterland
Waterland is an independent private equity investment group that supports entrepreneurs in realizing their growth ambitions. With substantial financial resources and committed 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 Düsseldorf) and Poland (Warsaw), and currently manages € 4 billion of investor commitments.

Waterland has since its foundation in 1999 consistently achieved top tier investment performance.

It ranks as the number 2 most consistent performing buyout fund manager worldwide in the 2015 Preqin Consistent Performers in Global Private Equity & Venture Capital Report, February 2015, and as the number 2 global private equity firm in the fifth annual HEC/Dow Jones Private Equity Performance Ranking compiled by Prof. Gottschalg of HEC Paris Business School, January 2015.