HgCapital, the Manager of HgCapital Trust plc, has announced that it has agreed the sale of Mainio Vire, a leading provider of elderly care, mental health and home services in Finland, to Mehiläinen, a private provider of social and health care services also based in Finland. Completion is subject to regulatory approval.
Based on the 31 May 2016 reported NAV (including the impact of the revaluation of the carried interest provision), the pro-forma NAV of the Trust is expected to increase to GBP519.7 million or 1,392.4 pence per share (an increase of 2.3 pence).
Founded in 1997, Mainio Vire was one of the first private social care companies in Finland and it has grown rapidly via a combination of opening new care homes and selected small acquisitions to become one of the largest social care companies in Finland today. The company operates close to 50 care homes with almost 1,600 beds in over 50 municipalities. The company has approximately 1,000 employees, the significant majority of which have formal social or healthcare education.
During its ownership, HgCapital has supported Mainio Vire’s management team in various initiatives to accelerate revenue growth and has invested significantly into quality and other support functions. Today, Mainio Vire is one of the highest quality care providers in Finland.
HGT : Hg Capital selling Mainio Vire