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PRINT THIS PAGE Advent International acquires Casa Reha Betriebs- und Beteiligungsgesellschaft14/09/2005. Source: AltAssets. 
 Advent International has acquired a majority interest in German private nursing home group Casa Reha Betriebs- und Beteiligungsgesellschaft from JPMorgan Partners, Covenant Care International, German Equity Partners and the management, which is rolling over its stake. Financial details of the transaction have not been disclosed.
Casa Reha has a portfolio of 24 nursing care facilities providing over 3,450 beds. A further five nursing homes with approximately 700 beds are under construction. The company was founded in 1995 by US private equity-backed nursing home chain Covenant Care International. In 1998 Chase European Equity Associates (now known as JPMorgan Partners and German Equity Partners participated in a capital increase.
Georg Stratenwerth, general manager at Advent's Frankfurt office, said, 'We have known this business for many years and are delighted to now have the opportunity to work alongside its first rate management team. In common with many other parts of the world, increased life expectancy is predicted to drive consistent growth in the nursing care market over the next two decades. Casa Reha's proven operational effectiveness combined with the quality of its service will ensure that it is strongly positioned to capitalise on this opportunity.'
Other recent investments by Advent's German team include the acquisition of Herlitz, a manufacturer and supplier of stationery and papeterie products; Synventive Molding Solutions, a designer and manufacturer of hot runner systems; and HT Troplast, a global diversified plastics manufacturer.
Last week Advent announced that it had agreed to acquire Uruguayan commercial bank Nuevo Banco Comercial from the Uruguayan government in a $167m deal.
Advent has $10bn in cumulative capital raised and offices in 13 countries across Europe, North America, Latin America and Asia Pacific.
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