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HOMEVI SAS ANNOUNCES EXPECTED CLOSING OF SARQUAVITAE ACQUISITION

Posted on by darion

Suresnes, France – February 3, 2017, 11:00 AM. HomeVi SAS, a limited liability company organized and existing under French law (“HomeVi”), announces the expected closing of the acquisition (the “Acquisition”) of SARquavitae Servicios a la Dependencia SL (“SARquavitae”) by its wholly owned subsidiary GeriaVi on February 7, 2017. In connection with the financing of the Acquisition, the proceeds from the offering dated November 9, 2017 in the amount of EUR 128 million for a total capital amount of EUR 67/8% Temporary Senior Secured Notes due 2021 issued by HomeVi (the “Temporary Senior Secured Notes”) and EUR 200 million aggregate principal amount of Senior Secured Floating Rate Notes due 2021 issued by HomeVi (the “Senior Secured Floating Rate Notes”) are to be released from escrow. The Temporary Senior Secured Notes are expected to be exchanged for additional senior secured notes (the “Additional Senior Secured Notes”) issued by HomeVi pursuant to the agreement dated August 7, 2014 pursuant to which HomeVi issued its existing EUR 480 million 67/8% Senior Secured Notes Due 2021 (the “Existing Notes”, and together with the Additional Senior Secured Notes and Floating Rate Senior Secured Notes, the “Notes”).

HomeVi expects that the gross proceeds from these offerings, as well as capital contributions from shareholders and cash received from the sale of certain subsidiaries by SARquavitae, will be used to fund the acquisition of SARquavitae, refinance certain of SARquavitae’s debt, accumulate cash on its balance sheet and pay certain transaction costs.

SARquavitae is one of the leaders in senior care services in Spain through its various divisions, including nursing homes, telecare, home care and, to a lesser extent, rehabilitation. SARquavitae manages 88 facilities with approximately 11,000 beds, with pro forma revenues of 310 million euros and a pro forma EBITDA margin of 9.4% in fiscal year 2015. Founded by Mr. Higinio Raventós Negra, SARquavitae has grown rapidly over the last few years through the creation of new facilities and acquisitions.

About HomeVi

HomeVi is a holding company that owns 100% of DomusVi SAS, GeriaVi SL and their respective subsidiaries (collectively the “DomusVi Group”). HomeVi is owned by funds managed or advised by PAI Partners, DV France (holding company of the founder of the DomusVi Group, Yves Journel) and funds advised or managed by ICG.

DomusVi Group in brief

DomusVi Group is the third largest provider of services for the elderly in France and Spain. It offers a full range of services, with 227 nursing homes, 16 residential facilities, four psychiatric care facilities, 47 home care agencies (of which 20 are nursing services) in France and Spain. HomeVi Group employs over 16,000 people.

www.domusvi.com

For further information please contact:

Home pageVi SAS
1 rue de Saint-Cloud,
F 92150 Suresnes
France
Laurent Thibeau, Chief Financial Officer, [email protected]

Important regulatory information

This announcement contains confidential information of HomeVi SAS pursuant to Regulation (EU) 596/2014 (of 16 April 2014).

This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. The Notes referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act“). The Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offering of the Notes in the United States.

This press release may contain forecasts and other “forward-looking” statements within the meaning of applicable securities laws. Any such forecasts or statements reflect HomeVi’s current views regarding future events and/or financial results. No assurance can be given that such events or results will occur as projected, and actual results may differ materially from such projections.

This announcement is being distributed only to persons who have professional experience in matters relating to investments that fall within the scope of section 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) 2005 (hereinafter referred to as “Order“) or (b) high net worth entities and other persons to whom it may otherwise lawfully be transferred who fall within the scope of section 49(1) of the Regulation (all such persons together being referred to as “important persons“). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire, any such investments will be available only to, or will be entered into only with, relevant persons. Any person who is not a relevant person should not act on or rely on this document or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.

Neither the content of the HomeVi website nor any site accessible by hyperlink from the HomeVi website is incorporated into or forms part of this announcement. The distribution of this announcement may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

Press release (PDF)

This announcement is being distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The publisher of this announcement declares that it is solely responsible for the content, accuracy and originality of the information contained therein.
Source: HomeVi via GlobeNewswire
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