Euro Choice II exits SENIOcare
Euro Choice II, the private equity investment programme focusing on the European market, has sold its majority stake in SENIOcare, a long-term care group in Switzerland, to funds managed by private equity investment group Waterland.
Founded in 1983, SENIOcare has 26 nursing homes across Switzerland and over 1,000 residents cared for by over 1,000 full or part-time employees. In 2012, SENIOcare will achieve a turnover of about CHF100m.
Since the investment in late 2007, SENIOcare has seen substantial growth in sales and earnings through focused business development and a re-organisation of the company to tackle growth.
“Management and staff have transformed this family-owned company into the leading long-term care group in Switzerland. The slogan – ‘Wir bieten Menschen mit ihrer Geschichte ein Zuhause’ (‘We offer people and their personal history a home’) – sums up the quality which staff and management delivers; that makes SENIOcare different,” says Christopher S Bödtker, managing partner of Akina.
“SENIOcare has further developed its dementia-care competence. During our ownership SENIOcare has increased the number of nursing homes from 17 to 26 and strengthened its geographic presence in Switzerland. Turnover has doubled during this period, and the group is well prepared for the future,” says Yvonne Stillhart, chairman of Euro Choice II.
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