Sale of La Saleta, subsidiary of Geroresidencias group, to the Belgian group Armonea
Strategic advisor to the seller
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.