HBI Deals+Insights / Payor and Operator Models

PAI turns to SAR as Maisons de Famille pays 14x EBITDA for Amma

French care group Maisons de Famille has started due diligence on Spain's fifth largest group Amma after having a €220-230m bid accepted. Considering Amma's €16m EBITDA target for 2016, owner Caixabank is fetching 14-15x forward EBITDA. Private equity bidder PAI Partners stepped back and has turned towards the market leader SARquavitae, which is also readying up for sale. Also in Spain, Belgian care group Armonea has bought La Saleta, a nine-nursing home group in Valencia with sales of €34m.

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