EQT Partners AB agreed to sell German care home operator Charleston Holding GmbH for an undisclosed sum.
The care home operator was sold to Italian healthcare group KOS and the real estate portfolio to Primovie, a European healthcare and education focused real estate fund managed by Primonial REIM.
The deal is subject to customary conditions and antitrust approval and expected to close in the second half.
Société Générale acted as financial adviser and Pöllath+Partner acted as legal adviser to EQT. Strategy&, EY and JonesLangLaSalle assisted in preparing due diligence materials.
"The acquisition of Charleston is a significant step forward in KOS’s process of internationalization and will enable the company to accelerate its development," said Guiseppe Vailati Venturi, CEO of KOS, in a statement. "The German market offers many opportunities both for business combinations and for opening new nursing homes."
