Waterland Private Equity has expanded its portfolio company Schönes Leben Group to include Gut Köttenich / Euregio, a care specialist based in the German state of North Rhine-Westphalia. Gut Köttenich Group’s portfolio of services includes inpatient, outpatient and adult day care, as well as assisted living, non-hospital intensive care and meals on wheels.

Following the acquisition of the southern German care specialists compassio in December 2017, Schönes Leben is now expanding into North Rhine-Westphalia, Germany’s most populous state. As a result, the company is taking a further step towards creating an outstanding platform for retirement care, new residential offerings for the elderly and innovative services for people over the age of 65.

“With 14 nursing homes at 11 locations, Gut Köttenich Group is the regional market leader and the perfect addition to the Schönes Leben Group, which has so far maintained a footprint mainly in southern Germany through compassio,” says Marc Hildebrand, CEO of the Schönes Leben Group. “The acquisition gives us a foundation for further growth in the states of North Rhine-Westphalia and Rhineland-Palatinate, plus it brings us one step closer to our goal of becoming the most modern provider of services for older people over the age of 65.” The Schönes Leben strategy is based on the three pillars of care, assisted living and tailored support services for people over the age of 65.

“Looking at the growth development of Schönes Leben this year, where management has already secured several further locations by signing lease agreements for newly built care homes, we now look forward to to include a leading-edge group that encompasses top-of-the-line facilities and three newly constructed locations in North Rhine-Westphalia which will be opened in the next 18 months,” Dr Carsten Rahlfs, managing partner at Waterland, adds. “. We will continue to strategically and financially encourage the growth of Schönes Leben.”

The transaction remains subject to cartel clearance.