Heuking Kühn Lüer Wojtek advises AUCTUS on sale of PROCON Group
Heuking Kühn Lüer Wojtek advised the funds advised by AUCTUS Capital Partners AG and their co-shareholders on the sale of PROCON group. Wiesbaden-based PROCON group operates 15 senior citizens' residences in Germany with more than 2,300 nursing beds and 126 apartments for assisted living.
Buyer is Alloheim Senioren-Residenzen SE, headquartered in Düsseldorf, a portfolio company of U.S. private equity firm The Carlyle Group. Alloheim also operates nursing homes and will have 7,889 beds and 896 units for assisted living after the acquisition. The takeover is subject to approval by the antitrust authorities and is to be closed with retroactive financial effect as of November 1, 2014.
Munich-based private equity partner Boris Dürr and lawyer Daniela Rinke were Heuking Kühn Lüer Wojtek's lead advisors on the transaction. Boris Dürr had already advised the AUCTUS funds on the acquisition of PROCON group in 2007 and, like Daniela Rinke, also advises the Munich PE firm on other transactions. Heuking Kühn Lüer Wojtek's team comprehensively advised AUCTUS on the sales process, beginning with structuring the transaction to advising on due diligence up to drafting and negotiating the contract documentation.
Counsel to AUCTUS
Heuking Kühn Lüer Wojtek
Boris Dürr (Lead),
Daniela Rinke (both Private Equity/M&A),
Ricarda Marschall, LL.M. (Corporate/M&A), all Munich
Marc P. Scheunemann (Tax Law),
Dr. Peter Zimmermann (Real Estate Law), both Düsseldorf