Munich — Waterland Private Equity acquires a majority stake in Rehacon GmbH, one of the leading companies for physiotherapy services in Germany. Shearman & Sterling advised Deutsche Apotheker- und Ärztebank eG (apoBank) and Skandinaviska Enskilda Banken AB (SEB) on the financing of the acquisition of Rehacon Group.
Rehacon, based in Gelsenkirchen, operates more than 100 therapy centers throughout Germany, making it one of the largest providers on the market in Europe. With more than 600 employees, the vast majority of whom work on-site with patients in the therapy centers, the Group generates annual sales of around 36 million euros. The seller of the shares is Mr. Michael Reeder, the founder and managing director of the group, who is taking a significant stake in Rehacon through Reeder Invest GmbH.
The founder of the company will also continue to manage it. The transaction, which is expected to be completed by March 2019, is still subject to approval by the antitrust authorities. Details of the transaction were not disclosed.
Advisor Waterland: Shearman & Sterling
The Shearman & Sterling team included partner Dr. Matthias Weissinger and legal assistant Constanze Herrle (both Germany-Finance).
About Waterland Private Equity
Waterland Private Equity has extensive experience in the healthcare market. The current portfolio of companies includes MEDIAN, the leading private provider in Germany with more than 120 rehabilitation clinics, the ATOS group of clinics specializing in orthopedics, the care service provider Schönes Leben, and two medical practice chains. Waterland is also involved in Hansefit, a leading sports network for corporate customers with more than 1,400 affiliated fitness studios.
Waterland is an independent private equity investment firm that helps entrepreneurs achieve their growth objectives. Waterland has offices in Belgium (Antwerp), the Netherlands (Bussum), the UK (Manchester), Germany (Munich and Hamburg), Switzerland (Zurich), Denmark (Copenhagen) and Poland (Warsaw) and currently manages over €6 billion of investor commitments.