24.10.2017
[Munich, ] GÖRG Partnerschaft von Rechtsanwälten mbB advised MK-Kliniken AG on a transaction that included the sale of 46 nursing homes to Chequers Capital, a private equity firm. Located in 12 different German states, these residential nursing facilities have some 5,500 beds and are operated by approximately 3,200 employees. Together with the service companies, the nursing homes were carved out of the MK-Kliniken AG Group and bundled in SWP Holding GmbH. Plans call for the new nursing home group to operate under the name EMVIA Living. The parties agreed to keep the purchase price confidential.
With its 55 nursing facilities, 4 residential complexes for assisted living and approximately 4,850 employees, MK-Kliniken AG was a leader in the German residential healthcare sector. The group’s institutions focus on care for dementia patients as well as for stroke victims and patients afflicted with (drug-related) amnesia. With this transaction, MK-Kliniken AG will have disposed of most of the nursing facilities it operated.
Chequers Capital is a private equity company that focuses on the acquisition and growth of medium-sized companies.
Mk-Kliniken AG was guided through the transaction by a specialized team that was headed by GÖRG partner Dr. Christian Becker and covered corporate, securities, antitrust and labor law as well as aspects of real estate law.
Wolfram Müller and Dr. Carsten Bittner from the Hamburg location of Graf of Westphalen advised the client on the legal aspects of the real estate carve out, and the Munich office of Linklaters (Dr. Wolfgang Krauel and Dirk Horcher) prepared an independent opinion on issues related to securities regulations.
The seller was advised on the financial issues involved in the transaction by Hartmut Schulte, who headed the team provided by Bruhn Schulte Partnerschaftsgesellschaft, as well as tax accountant Irina Maurer and public auditor Sebastian Motzkus.
The buyer was advised by a Latham & Watkins team headed by corporate partner Burc Hesse.
Advisors to MK-Kliniken AG
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Christian Becker (Corporate/M&A, Team Lead)
Dr. Daniel Rubner (Corporate/M&A)
Beatrice Gack (Corporate/M&A)
Dr. Lutz Pospiech (Securities)
Dr. Christian Bürger (Competition Law)
Michael Gierth (Real Estate)
Dr. Stefan Heyder (Management Participation)
Dr. Ulrich Fülbier (Labour and Employment)
Cornelia Kinast (Banking & Finance)
Dr. Melanie Ries (Trademarks and Unfair Competition Law)
