Livingstone’s Healthcare sector team has advised the shareholders of Casa de Reposo San Onofre, SL (“San Onofre”), on the sale of the company’s business unit to ITA Salud Mental, a portfolio company of private equity firm Magnum Capital Industrial Partners. Terms of the deal were not disclosed. A family-owned business based in Godella (Valencia) with 90 years of experience, San Onofre is a noted clinic in the Valencia region, specialising in the provision of quality personalised psychiatric services.
With a workforce of over 40 professionals, this psychiatric clinic has a capacity to accommodate 97 patients. San Onofre operates within the private health sector, providing services to the private mental health hospital sector. Its objective is to offer auxiliary/complementary services to those offered by public health. Located in a former convent, the facilities of San Onofre are ideal for the care and comfort of patients. The clinic offers a wide range of ancillary services that complement the patients stay and enhance their treatments and recovery.
Alicia Gaztea, majority shareholder of San Onofre commented: “We were very fortunate to have had Livingstone’s hands-on support during the process. Their sector knowledge, strategic guidance and deep understanding of San Onofre, were instrumental in identifying a buyer and helping us execute a successful transaction. We look forward to seeing the business continue to grow and thrive under the ownership of such a great business group.”
ITA Salud Mental are mental health specialists. They have a wide network of centres dedicated to the integral treatment of disorders and problems associated with mental health such as eating disorders, behaviour disorders, addictions and general psychiatry. Since the entry of Magnum Capital into its capital in 2016, the business has increased its number of centres. With the incorporation of San Onofre these will total 16.
Spanish private equity Magnum Capital is focused on investments in Iberian mid-market companies. Magnum seeks to leverage over 100 years of experience accumulated between its team members, portfolio companies’ management teams, and industrial consultants, generating substantial returns to its investors.
Ximo Villarroya, Partner at Livingstone commented: “It has been a pleasure working with Alicia and the Magnum Capital team. In this long-term care sector, the clear deficiencies of psychiatric public services networks favour the development of private initiatives in competition with the public structure providing complementary services in a professional and efficient manner. Alicia has handed over to a strong business group that will ensure the continuity of their project, offering new opportunities to their employees and collaborators.”