SKW Schwarz advises KOS on the acquisition of Charleston Holding from EQT

SKW Schwarz Rechtsanwälte advised KOS S.p.a., an Italian provider of nursing homes, on the acquisition of Füssen-based Charleston Holding GmbH from EQT Infrastructure II Fund S.a r.l.

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KOS, a subsidiary of publicly listed CIR Group, acquires 100% of the shares in Charleston. The volume of the transaction, which does not include Charleston’s real estate portfolio, is about EUR 90 million. The transaction is subject to customary regulatory approvals and is expected to close by the end of October 2019.

KOS is one of Italy’s leading providers of nursing homes. Founded in 2002 by CIR Group, the company operates facilities for long-term care, diagnostics, and oncology in Italy, the UK, and India and is also active in hospital management. In 2018, the group generated sales of some EUR 545 million. With the acquisition of Charleston, the number of facilities managed by KOS increases from 85 to 132, comprising a total of more than 12,000 beds, with about 11,200 employees. The acquisition represents the first entry of KOS into the German market.

Charleston Holding is a leading German operator of residential and care centers, outpatient care services, and day nursing care facilities. Operating at 47 sites in five German states, the company offers more than 4,000 beds for people in need of care. Charleston generated sales of some EUR 152 million in 2018.

An SKW Schwarz team with members from two of its offices, led by Dr. Sebastian Graf von Wallwitz, advised KOS on the transaction and on the complex aspects of real estate law and social security law. SKW Schwarz collaborated with Milan-based TerraLex partner firm Carnelutti, which had established the contact to the client.

Counsel to KOS:

SKW Schwarz Rechtsanwälte, Munich: Dr. Sebastian Graf von Wallwitz, LL.M. (Lead, Corporate/M&A), Dr. Matthias Nordmann, M.A. (Data Protection), Margret Knitter, LL.M. (IP), Dr. Petra Steinheber (Counsel, Real Estate), Marion Anzinger (Counsel, Corporate/M&A), Eva Bonacker (Counsel, Corporate/Antitrust), Hanna Karl (Counsel, Employment Law), Wilhelm Freiherr von Feilitzsch (Associate, Corporate/Commercial), Nikolai Schmidt (Associate, IT /Data Protection)

SKW Schwarz Rechtsanwälte, Berlin: Dr. Klaus Jankowski (Real Estate, Social Security), Friedemann Scholten, LL.M. (Counsel, Real Estate)

Carnelutti, Milan: Carlo Pappalettera, Alessandro Asti