The UK investment firm Intermediate Capital Group (ICG) together with the pension insurance company Etera and the company’s management acquires Esperi Care Group, one of the leading care companies in Finland. The new shareholders’ goal is to grow Esperi organically and through acquisitions. Esperi is acquired from CapMan Group.
Esperi offers homely, versatile living services for the elderly, the disabled and those in rehabilitation. The company has over 4,000 employees in the field all over Finland. Esperi was founded by the Finnish Red Cross in 2001, and has grown with the support of investment companies to become one of the leading actors in the country.
“We are proud of the growth these past few years, and are happy to say that the new business owner is committed to the development and growth of Esperi. Through the collaboration with CapMan, we have grown both organically and through corporate acquisitions. We have succeeded in our growth strategy, and we have had supportive owners in every phase of our company’s growth. I have led Esperi for 13 years, and the company is well acquainted with the Finnish municipalities and their growing need for nursing. We have bought 80 social care companies to date. Additionally, we are building 28 nursing homes and five new Saga care homes throughout Finland, so there’s plenty to do in the coming years,” says Marja Aarnio-Isohanni, CEO of Esperi Care Oy.
Esperi is the fastest-growing care company in Finland, and this year its revenues are expected to grow to 160 million euros. The company operates over 100 care homes, which can accommodate 3,700 inhabitants. Esperi’s growth will lead to thousands of new jobs in Finland, as the new nursing homes require personnel from a wide variety of fields, including construction, caring, meal services and housekeeping.
“The reputation and quality of the services offered by Esperi are excellent, and the growth substantial. The markets have very significant growth potential, for example through the upcoming social and health service reform. We want to be involved in developing Finnish care services by bringing innovative services – such as the intermediate forms of living offered by Saga care homes – to a larger audience in Finland. We aim to develop our operations constantly, since our goal is to ensure high quality and good care,” says Timo Larjomaa, Managing Director, ICG.
ICG is an investment firm, and is listed in the London stock exchange. Its investments include, among others, European companies in the field of social and health services. ICG offers Esperi a strong, widely experienced and international development team with excellent knowledge of the field.
Pension insurance company Etera will also continue as an owner of Esperi Care.
“Esperi’s approach and high-quality services are well known in over 150 municipalities all around Finland. We have been owners of Esperi since 2011 and will continue to support it in the next growth phase,” adds Stefan Björkman, CEO of Etera.
“We are very pleased with our investment in Esperi. During our ownership Esperi has grown into a national leader in its field while emphasising quality of service and developing new social care concepts and approaches for residential care. During our involvement Esperi has created several new jobs and invested in a knowledgeable staff, which is the key to sustainable growth. Consolidation in the private social care sector continues and now the timing is perfect for a new owner to take over,” comments Markus Sjöholm, senior partner of CapMan Buyout and Chairman of the Board of Esperi.
Marja Aarnio-Isohanni, CEO of Esperi, will continue in the position, with her shareholding growing to over 10 percent. Other key personnel also remain as stakeholders. The acquisition does not affect Esperi’s client or employment relationships, which are expected to continue as before. The closing of the acquisition requires the approval of the Finnish Competition and Consumer Authority, which is expected to be finalised during summer.
For media enquiries, please contact:
Maria Vaismaa, Leading Communications Consultant, Miltton
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Marja Aarnio-Isohanni, CEO, Esperi Care
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Timo Larjomaa, Managing Director Nordics, ICG
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Esperi Care Group:
Esperi offers homely, versatile living services for the elderly, the disabled and those in rehabilitation. We collaborate with over 150 Finnish municipalities, and have over 3,700 places for inhabitants all around Finland. We provide employment for 4,000 professionals in the field of social and health care services, and our revenue in 2016 was over €160 million. www.esperi.fi
ICG is a specialist asset manager with a 27-year history in private debt, credit and equity. We have invested in the Nordic markets for over 25 years, and combine flexible capital solutions, local access and insight with an entrepreneurial approach. ICG has €21.6bn of assets under management globally). We are listed in the London Stock Exchange (ticker symbol: ICP), and regulated in the UK by the Financial Conduct Authority (FCA). www.icgam.com
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Press release 27.05.2016