DomusVi has successfully acquired its Spanish competitor SARquavitae, previously held by a consortium of investment funds including Palamon Capital Partners and G Square Capital. This transformative build-up operation allows the group to become the number one player in the Spanish elderly care market. The strategic rationale centers on geographic diversification, as the target’s strong footprint in Catalonia and Madrid perfectly complements the acquirer’s existing position in Galicia. The integration adds 88 facilities and 11,000 beds to the group’s portfolio, bringing total pro forma revenues to approximately €1.2 billion. This acquisition marks a significant milestone in the group’s international expansion strategy, following the previous year’s integration of another Spanish operator, thereby solidifying its leadership position in Southern Europe.

SARQUAVITAE, which reported an EBITDA margin of LOGIN in 2016, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 12.8x average currently observed in the Healthcare & Pharma sector.

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