Ashurst advised DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (DZ Bank), Deutsche Apotheker- und Ärztebank (apoBank) and SEB AG (SEB) on the financing of the acquisition of the Margarethenhof Group by nursing home operator DOREA, a portfolio company of Quadriga Capital Private Equity Fund IV L.P.

The parties have agreed to maintain confidentiality regarding the purchase price. The transaction is subject to the approval of the relevant cartel authorities.

The Berlin-based DOREA Group continues its expansion strategy. With the acquisition of Margarethenhof Group, the number of DOREA employees increases from 1,550 to more than 2,300 employees who care for up to 3,100 senior citizens in 31 homes in total. Currently, Margarethenhof Group established in Krefeld manages 13 nursing homes in Germany, offering full-time in-patient care, assisted living and outpatient care.

The Ashurst team was led by partner Dr Bernd Egbers and associate Isabell Pöller. They were supported by transaction manager Susanne Kasnitz (all finance, Munich). Corporate partner Holger Ebersberger (Munich) reviewed the purchase agreement.

Thus, Ashurst is once more acting on the financing of a transaction in the nursing market within only a few months' time. In September 2016, the firm had already supported DZ Bank and apoBank in the financing of the acquisition of Meritus Seniorenzentren by DOREA.