Araoz & Rueda advises on the acquisition of Sanyres Group

Araoz & Rueda, led by Francisco Solchaga, has advised Orpea Group on the acquisition of Spanish care home group Sanyres. Orpea Group is a leading French nursing home and elderly care provider, whose parent company is listed on the Euronext Stock Exchange. 

With this acquisition, the French group -which operates in Spain through its subsidiary Orpea Iberian- reinforces its European expansion. Orpea´s network comprises 74,272 beds in 733 facilities, 56% of which are outside France, and employs more than 38,000 workers across 9 European countries. 

Sanyres, has a network of 3,300 beds in 18 nursing homes across key Spanish cities including Madrid, Málaga and Cordoba, and employs more than 1,500 people. Its asset package includes a network of newly- built properties (average age of 10 years) with over 150 beds and 67% private beds paid-for in full by residents. The group posted revenues of around 55 million euros in 2015. 

The acquisition of Sanyres has allowed Orpea to become one of the largest long-term care operators in Spain, with 7,334 beds in 43 facilities located in major urban areas (55% of Orpea Iberian´s facilities are in Madrid) and a majority of private beds (72%). Commenting on the transaction, Orpea’s CEO Yves Le Masne said: “With the acquisition of Sanyres Orpea doubles the size of its network in Spain, and becomes one of the leaders in the Spanish care home sector.”