Buy & Build at Waterland Private Equity: Rehacon
Gelsenkirchen/Hamburg — Barely two months after joining Rehacon, Waterland Private Equity accompanies the first acquisition as part of a long-term buy & build strategy: Therapiezentrum Anita Brüche, one of the largest providers of physiotherapy services, occupational therapy and speech therapy in Hamburg, will in future be part of the Rehacon Group. The seller is founder and namesake Anita Brüche. The Waterland portfolio company Rehacon is thus continuing its expansion course with the support of the investor. The transaction, the details of which have been agreed not to be disclosed, is expected to be completed by the end of May.
The Anita Brüche Therapy Center, which was advised on the transaction by Dr. Urbanek Corporate Finance, treats over 10,000 patients annually with its more than 50 employees. The acquisition strengthens Rehacon’s regional presence in Hamburg and expands its portfolio of services, for example by adding home visits to patients. Rehacon is expected to grow in the future by incorporating additional therapy centers, thereby expanding its position in the highly fragmented physical therapy market.
Rehacon, one of the leading companies for physiotherapy services in Germany, operates more than 100 therapy centers nationwide, making it one of the largest providers in the European market. With more than 600 employees, most of whom treat their patients on site in the therapy centers, the Group most recently generated annual sales of around 36 million euros.
Anita Brüche, founder of the therapy center of the same name, says: “With the Rehacon Group, we have now also found the best partner for the continuation of my company for the patients and the employees. We will continue to stand for the highest quality of treatment in physiotherapy, occupational therapy and speech therapy in Hamburg.”
Michael Reeder, founder and managing director of Rehacon, is particularly pleased about the additional attractiveness of the entire group as an employer: “With the now strong presence in Hamburg and the training and further education academy established there, we can now offer our therapists another exciting location.”
Dr. Carsten Rahlfs, Managing Partner at Waterland: “The Anita Brüche Therapy Center is a perfect fit for Rehacon and thus for our joint expansion strategy: the high training standard of the employees, digitized processes in the practice and the associated very high employee satisfaction are an ideal match for Rehacon.”
Waterland Private Equity has extensive experience in the healthcare market. For example, the current portfolio of companies includes MEDIAN, the leading private provider in Germany with more than 120 rehabilitation clinics, the ATOS clinic group, which specializes in orthopedics, and the care service provider Schönes Leben. Waterland also has a significant stake in Hansefit, a leading network association for company sports and health services with more than 1,400 affiliated fitness studios.
Waterland is an independent private equity investment firm that helps companies realize their growth plans. With substantial financial support and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Hamburg, Munich), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen) and Switzerland (Zurich). Currently, six billion euros in equity funds are under management.
Waterland has consistently outperformed its investments since its founding in 1999 and has regularly ranked among the top three leading private equity firms worldwide in past HEC/Dow Jones Private Equity Performance Rankings.