CDPQ co-invests with EQT in Colisee, a European leader in elderly care

2020 OCT 01 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Caisse de depot et placement du Quebec (CDPQ), a global institutional investor, announces the acquisition of a minority interest in Colisee Group, a key player in Europe’s nursing home sector.

CDPQ’s investment alongside EQT Infrastructure V (EQT Infrastructure, majority shareholder) and Colisee’s management team will enable the company to consider new growth opportunities, including in new markets, while consolidating its high-quality care and services offering.

Headquartered in Paris, Colisee currently operates more than 270 nursing home facilities as well as home care services agencies, mainly in France, Belgium, Spain and Italy. In addition to nursing home facilities, Colisee has diversified its offering to provide more services to help the elderly. The company employs more than 16,000 people and has annual revenues of over €1 billion.

This stake is the culmination of talks with Colisee management that began in 2019 and is part of CDPQ’s enhanced infrastructure investment strategy in Europe. As a long-term investor, CDPQ will support Colisee in its development plan, which takes into account major trends such as the aging population and growing demand for elder care services.

“For CDPQ, this acquisition represents a significant investment in health care infrastructure, an essential sector where needs are growing and where Colisee is well positioned,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “Colisee’s excellent track record in terms of quality of care and resident well-being is a crucial element of this partnership, and is consistent with our ESG approach.”

“With the support of a long-term investor like CDPQ, Colisee will continue developing its elder care services. CDPQ shares common values with our company, and social responsibility is at the heart of its mission,” stated Christine Jeandel, President of Colisee.

“EQT Infrastructure is proud to have the participation of a high-quality partner such as CDPQ for this investment in social infrastructure, a speciality area for EQT. With CDPQ’s investment alongside EQT Infrastructure, Colisee will benefit from shareholders who can support the group’s strong growth over the long term, said Ulrich Kollensperger, Partner and Thomas Rajzbaum, Managing Director at EQT Partners and investment advisors at EQT Infrastructure.

The transaction is subject to regulatory approvals. The financial terms of the transaction were not disclosed.

ABOUT CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

Caisse de depot et placement du Quebec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CAD 333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

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