Unigestion’s private equity team leads the buyout of European home care provider Home Instead
Unigestion has led in the buyout of Home Instead Holding (Home Instead), a provider of home care services across Europe.
As part of the sale of Home Instead, Unigestion as lead investor has invested in the company, alongside the founder of Home Instead, Paul Fritz, who, together with Verium, continues to hold a majority stake in the company. With Unigestion’s investment, the shareholder base of Home Instead has been supplemented with an experienced institutional investor to support the successful implementation of the company’s ambitious growth plans.
Home Instead is the world's leading provider of home care services, predominantly for the elderly. The company is the exclusive franchisee of US-based Home Instead Inc. for several countries in Europe: Switzerland, Austria, Ireland, the Netherlands and France.
The services Home Instead provides have strong societal value, particularly among countries with ageing populations. By supporting elderly people with everything from shopping and cooking to 24 hour care and palliative support, it enables them to remain living in their own homes and thus to retain their independence for as long as possible. There is also benefit for public finances given the number of elderly people needing to be cared for by state healthcare systems is reduced.
Founded in 2007, Home Instead has achieved strong organic growth and successfully internationalised its business via acquisitions. Supported by favourable demographic trends and, in particular, the prevailing desire of seniors to continue living in their own homes, the company has seen significant growth in recent years.
Paul Fritz, CEO and Chairman of the Board of Directors of Home Instead, says: "With Unigestion, we are gaining a strong partner and setting course for the continued successful development of our company. We want to continue the strong growth experienced by the company over the last few years, in which time turnover and profitability have multiplied. The re-investment of Verium also ensures the necessary continuity."
Paul Fritz will remain CEO and Executive Chairman of the Board of Directors and will increasingly focus on the strategic development of the company in the medium term.
Philipp Scheier, who will represent Unigestion on Home Instead’s Board of Directors, says: "Home Instead has enjoyed rapid growth in recent years and we are delighted to be joining forces with Paul Fritz and Verium and pursue a common path to further growth. Our experience in developing companies in the healthcare sector (including Seniocare in Switzerland) and our global network will support the growth of Home Instead in the years to come."
Verium will continue to be represented on the Board of Directors by Marc Erni.
"Since Verium’s entry in 2014, Home Instead’s sales have increased from CHF 10 million to over CHF 130 million, the business has built up an international presence and various processes have been digitalised and optimised," says Erni. "The entire management team has delivered impressive results over the last few years and I am extremely pleased to accompany the further development of the company and continue to represent our investors."
Unigestion has provided the majority of the capital in this buyout transaction, part of it in the form of structured equity, enabling the existing investors to retain a significant stake. It mainly invested via its funds, Unigestion Direct II and Unigestion Direct II – Diversification Européenne.