Transaction

Sale of La Saleta, subsidiary of Geroresidencias group, to the Belgian group Arm...

Role:

Strategic advisor to the seller

Year: 

N/A

Client:

Armonea

Service / Sector

Description

GBS Finance acted as financial strategic advisor to the Spanish Private Equity fund AC Desarrollo for the sale of La Saleta, a subsidiary of Geroresidencias, to the Belgian group Armonea for an amount close to €70 million. La Saleta offers management services in residences for the elderly. The transaction includes 9 geriatric centers, 11 day-care centers and two assisted-living apartment blocks, most located in the Valencian Community.