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Alantra advised the founder of Philogeris Residences on his OBO


SECTORHealthcare

ServiceM&A; Debt Advisory

Aug 2017
Buy-side advisory

Advised by Alantra, Yann Reboulleau, founder and CEO of Philogeris Group, buyouts 123 IM’s stake to become the sole shareholder of the Group through an OBO transaction.

Over the past 10 years, Philogeris Group has expanded to become the 15th player on the French retirement home market, with an activity focusing on 2 different business models: directly-owned nursing homes and nursing homes under management (notably on behalf of 123 Investment Managers and more recently on behalf of public entities).

Thanks to a subordinated bond financing (“sponsorless”) provided by Edmond de Rothschild Investment Partners and Rive, combined with a senior financing mixing banking debt and private debt provided by BNP Paribas, BNP Paribas SME Funds and BPVF, this transaction enables Yann Reboulleau, founder and CEO, to acquire the entire capital of the Group and to offer liquidity to 123 Investment Managers, shareholder since 2010.

Beyond the OBO, the financing put in place will allow Philogeris Group to seize new external growth opportunities and pursue its ambitious development strategy. 123 Investment Managers will keep supporting Philogeris Group’s growth strategy, notably though the acquisition of nursing homes that could be managed by Philogeris Group on behalf of 123 Investment Managers.

“This transaction is an important milestone in the Group development and confirms the relevance of Philogeris Group business model which focuses on business aeras not always considered by other players. 123 Investment Managers team’s confidence over the last few years has been key in our success, and we identified new partners who share our approach and will help us to consolidate our position » comments Yann Reboulleau, CEO of Philogeris Group”.

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