World News: 14:12 GMT Tuesday 3rd December 2019. [Crédit Mutuel Equity via Globe Newswire via SPi World News]
MONTREAL, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Maisons Vivalto, a group specializing in assisted-living and long term care facilities for seniors with decreasing independence, is proud to announce the acquisition of two properties on the Island of Montreal, the Floralies Lachine and Floralies LaSalle residences, which offer more than 500 beds the entire continuum of care, from light care, “Ressources Intermédiaires” and “CHSLD”. This $80-million transaction marks the first step in the group's plan to expand into the assisted-living and long-term care sector in Canada.
Maisons Vivalto is made up of Groupe Vivalto, Crédit Mutuel Equity and Benoit Lellouche. With solid knowledge of the Quebec seniors residence market, the group plans to contribute actively to the development of this important sector.
Crédit Mutuel Equity is the private equity arm of Crédit Mutuel Alliance Fédérale, one of France’s largest banking groups. Formerly known as CIC Capital Canada, Crédit Mutuel Equity encompasses the growth capital activities across North America.
Crédit Mutuel Equity is already well established in Quebec in the seniors residence sector and is enhancing its growth capital portfolio through this strong partnership.
“The ever-larger senior population is creating care needs that require significant investment. As a result, Crédit Mutuel Equity has decided to expand its presence in health care and elder care in Canada. Taking advantage of our common European roots, we’re pleased to contribute to this partnership with Groupe Vivalto and Benoit Lellouche in a promising sector,” said David Dickel, Managing Director, Growth Capital, Crédit Mutuel Equity.
Groupe Vivalto ranks third in France in short-stay health care and also manages a portfolio of more than 4,000 long-term care beds in Belgium and France. Daniel Caille, the group’s founder and current manager, has extensive knowledge of the Quebec market, having made various major acquisitions in Quebec’s assisted-living retirement sector. For several years, his son, Guillaume Caille, has been responsible for Vivalto’s external growth through property acquisition and development in France, Belgium, Canada and new markets.
Benoit Lellouche oversees the Canadian group. Mr. Lellouche has proven management expertise and an impressive track record, having managed nearly 7,000 senior housing units representing near 40 seniors residences in Quebec and Ontario for almost 25 years. During his career, Mr. Lellouche has also been involved in major acquisitions in the seniors living sector in Quebec.
“I’m delighted to join forces with such prestigious partners as Groupe Vivalto and Crédit Mutuel Equity,” said Mr. Lellouche, Partner and Executive Manager of Maisons Vivalto. “With their financial, knowledge in the senior living industry and strategic support, we will pursue our development plan, insuring high-quality care and accommodation services in maintaining the respect and dignity of the elderly.”
Maisons Vivalto, which offers services to seniors who are semi-autonomous or in need of specific medical care, plans to expand by making strategic acquisitions or building assisted living and long-term care facilities.
The group’s first acquisition, Residences Floralies Lachine and Floralies LaSalle, employ more than 250 people and meet the needs of a private clientele in addition to the partnership with various programs of the ministère de la Santé et des Services sociaux du Québec and managed by “Centres intégrés de Santé et de Services Sociaux”.
Crédit Mutuel Equity is the private equity arm of Crédit Mutuel Alliance Fédérale, which encompasses its venture capital, growth capital and buyout activities.
Crédit Mutuel Equity supports business leaders at all stages of their companies’ development, from seed phase to buyout, by providing them with the means and the time required to implement their transformational projects. Crédit Mutuel Equity brings together a network of over 350 business leaders and entrepreneurs that share similar convictions and that can benefit from each other’s experiences, no matter the nature of their projects. Investing its own funds (€3.0 billion), Crédit Mutuel Equity’s investments are tailored to the time horizons and growth strategies of the companies in which it invests, whether in France, Canada, the United States, Germany or Switzerland.
Globe Newswire: 14:12 GMT Tuesday 3rd December 2019
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