Direct Investments

NORD Holding supports growth of elderly care home provider SIC

02.01.2009

NORD Holding Unternehmensbeteiligungsgesellschaft mbH, Hanover, has acquired a silent partnership in SIC Vermögensverwaltungs GmbH & Co. KG, Tarmstedt, the provider of nursing homes for the elderly.

SIC operates nursing homes with a capacity of 600 places in the area between Bremen and Hamburg.The capacity of each home ranges from 40 to a maximum of 60 places enabling SIC to provide the best age related care in a homely atmosphere. The nursing home residents are encouraged to participate in community life and this in turn supports the long term integration of residents in need of care in their familiar surroundings. The Group is headed up by the two managing directors, Hans-Joachim Pütjer and Jörg Viet, who each have more than 20 years' experience in the nursing home industry.

To date SIC operates a total of ten regional nursing homes in Bremervörde, Rotenburg, Glückstadt, Bakum, Brake, Rodenkirchen, Schwanewede, Langwedel and Stadensen. NORD Holding's silent partnership will enable the company to acquire a further nursing home provider in Sittensen as well as the construction of a new nursing home in Nordenham. In addition SIC would like to intensify its activities in the outpatient care sector already implemented in Rotenburg. SIC has retained the services of the tax advisory offices of Zühlke & Collegen, Tarmstedt, to advise it on its expansion plans and concept realisation.

"This is the first step in a long term partnership. We want to focus on expanding the care business of SIC and broadening its service portfolio", stated a NORD Holding spokesperson. Further acquisitions of nursing home providers are likely.

About NORD Holding

With its 50-year history and over € 2.0 billion assets under management, NORD Holding is one of the leading private equity asset managers in Germany with a focus on direct and fund investments.

The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.

NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.

The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.

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