HIG WhiteHorse refinances Grupo Recoletas
HIG WhiteHorse, a credit affiliate of global investment firm HIG Capital (HIG) has arranged a refinancing package for Grupo Hospitalario Recoletas (Recoletas), which includes a significant growth capital component.
Recoletas is a family-owned Spanish private hospital operator headquartered in Valladolid, Spain, with a leading position in the Castilla y Leon Spanish inland region. It operates eight hospitals with c540 beds and 13 medical centres across seven regions.
HIG WhiteHorse has committed EUR110 million in unitranche loans to refinance the borrower’s existing indebtedness and provide additional capital to finance growth, supporting the Company’s expansion. Recoletas is currently developing ambitious projects to expand its healthcare services provided through hospitals and medical centres, as well as diagnostic imaging centers and radiotherapy units.
Amando J Rodríguez, President and CEO of Grupo Hospitalario Recoletas, says: “We are very happy with the support received from HIG WhiteHorse, which has shown flexibility over the years, allowing the company to tailor its financing structure to meet our changing requirements. The support, reflected in this new financing, will allow the group to continue successfully developing its growth strategy with medical services of the highest quality.”
Ignacio Blasco, Managing Director at HIG WhiteHorse, says: “Recoletas is ideally positioned for the opportunities that lie ahead. We are happy to support its development by providing flexible capital to allow its management to pursue their highly ambitious goals. This transaction highlights HIG WhiteHorse's ability to support the long-term development of its clients by establishing close and lasting relationships.”