TA Associates acquires Alloheim from Nordic Capital

TA Associates has agreed to acquire all shares in Alloheim, Germany's largest private inpatient nursing home provider, from Sweden's Nordic Capital. Alloheim said its strategy, management and operational focus will remain unchanged. The transaction is subject to antitrust approval and is expected to close in the first quarter of 2027.

No purchase price was disclosed. Financial sources estimate the Düsseldorf-based company's valuation at around €2 billion, at least half of it debt. Rating agency Fitch puts Alloheim's EBITDA margin at 10%, supported by higher nursing rates, normalized occupancy and the use of temporary staff. No investment banks advised on the deal.

Alloheim has grown since 2018 by integrating more than 160 facilities, including over 30 from recent acquisitions, reaching more than 320 senior residences and about 30,000 beds. CEO Steffen Hehner said a €925 million bond placed in the spring secures financing into the next decade and that private equity sentiment toward nursing home investments has improved.