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07/2020Majority

Orpea takes majority stake in Brindley Healthcare

IRELAND Health Providers / Healthcare Facilities / Nursing Homes REV €10–30M

Context

Orpea acquired 50% of Brindley Healthcare, the fourth largest Irish nursing home operator, and simultaneously negotiated a call option enabling it to acquire the remaining 50% and reach full ownership by 2022. The transaction follows Orpea's acquisition of TLC Group earlier in January 2020 and confirms the group's strategic commitment to the Irish elderly care market, where it now becomes the second largest operator nationally. The two acquisitions — TLC and Brindley — are highly complementary geographically, with TLC concentrated in the Greater Dublin county and Brindley providing broader national coverage. Orpea's accelerated Irish development reflects its conviction in the structural growth opportunity presented by Ireland's significant nursing home capacity deficit, with the country targeting 10,000 additional places by 2031.

Brindley Healthcare, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average observed in the Healthcare & Pharma sector (14.6x in 2020).

-> Deep-dive in Healthcare & Pharma market trends

Target

Brindley Healthcare is an Irish nursing home operator founded in 2000, ranking as the fourth largest nursing home operator in Ireland at the time of the transaction. The group operates ten establishments with a total capacity of 574 places across Ireland. Brindley has built a solid reputation for quality elderly care delivery across its national network, with a geographic footprint that provides meaningful coverage outside of the Greater Dublin area. The Irish nursing home market is characterised by a structural and growing deficit in care capacity, with the country targeting the creation of 10,000 additional places by 2031 to meet the needs of a rapidly ageing population, making well-run local operators such as Brindley particularly attractive assets for international consolidators.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2019
€10–30M
[members only]
[members only]
2018
€10–30M
[members only]
[members only]

Other operations with Orpea

Other operations with Orpea
DateAcquirerTargetCountrySector
03/2020ORPEATLC GROUPIRELANDNursing Homes

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REFERENCES

Revenue range: REV €10–30M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Brindley Healthcare by Orpea are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Brindley Healthcare, an Irish company specialised in Healthcare Facilities, by Orpea in 2020.

What was Brindley Healthcare’s revenue at the time of the deal?

At the time of the transaction, Brindley Healthcare’s annual revenue was estimated within the €10–30M range (FY 2019). Detailed financial figures are available to members.

How does the valuation of Brindley Healthcare compare to benchmarks in the Healthcare & Pharma sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 14.6x EBITDA during 2020.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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