M&A Deal Summary

Revera - Canada and Welltower Acquire Sunrise Senior Living

On April 21, 2014, Revera - Canada and Welltower acquired consumer services company Sunrise Senior Living from KKR, BPOC and Welltower

Acquisition Highlights
  • This is Revera - Canada’s 1st and Welltower’s 2nd transaction in the Consumer Services sector.
  • This is Revera - Canada’s 1st and Welltower’s 5th transaction in the United States.
  • This is Revera - Canada’s 1st and Welltower’s 2nd transaction in Virginia.

M&A Deal Summary
Date 2014-04-21
Target Sunrise Senior Living
Sector Consumer Services
Buyer(s) Revera - Canada
Welltower
Sellers(s) KKR
BPOC
Welltower
Deal Type Add-on Acquisition

Target

Sunrise Senior Living

McLean, Virginia, United States
Sunrise Senior Living, Inc. offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services.

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Buyer(S) 2

Buyer

Revera - Canada

Mississauga, Ontario, Canada
Category Company
Founded 1961
Sector Healthcare Services
DESCRIPTION

Revera, Inc., is a provider of seniors accommodation, care and services; built on a 50-year history of helping seniors live life to the fullest.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Buyer

Welltower

Toledo, Ohio, United States
Category Company
Sector Real Estate
Employees533
Revenue 6.5B USD (2023)
DESCRIPTION
Entrance to Welltower's corporate headquarters in Toledo, Ohio.
Entrance to Welltower's corporate headquarters in Toledo, Ohio.

Welltower is a real estate investment trust (REIT). The Company's portfolio ranges from healthcare real estate to senior housing communities, nursing/post-acute facilities, and medical office buildings.

DEAL STATS #
Overall 5 of 8
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 3 of 5
State (Virginia) 2 of 2
Country (United States) 5 of 6
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-14 Sunrise Senior Living

McLean, Virginia, United States

Sunrise Senior Living, Inc. offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services.

Buy $845M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-13 HealthLease Properties Real Estate Investment Trust

Toronto,, Ontario, Canada

HealthLease owns a modern, high-quality portfolio of seniors housing, post-acute and long-term care communities, with 53 properties in two Canadian provinces and eight U.S. states. The communities are leased to experienced tenant operators under long-term, triple-net lease structures.

Buy $950M

Seller(S) 3

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 52 of 204
Sector (Consumer Services) 1 of 4
Type (Add-on Acquisition) 16 of 66
State (Virginia) 1 of 3
Country (United States) 25 of 89
Year (2014) 6 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Aceco TI

Brooklin Novo, Brazil

Aceco TI is a premier provider of customized data center solutions in Brazil and Latin America. Headquartered in São Paulo and with offices throughout the region, the company provides design, implementation, installation and maintenance services for data center infrastructure. Aceco has built over 500 data centers throughout its history.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-24 Biomet

Warsaw, Indiana, United States

Biomet, Inc. is a designs and manufactures orthopedic medical devices and other products used primarily by surgeons and medical specialists, with distribution in over 70 countries and a product portfolio that encompasses orthopedic joint replacement products, dental reconstructive implants, fixation devices, spinal products and other applications.

Sell $13.4B
SELLER

BPOC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Beecken Petty O'Keefe & Company (BPOC) is a specialist private equity firm that targets investments in middle-market healthcare companies. Specific areas of interest within healthcare include, specialty distribution; provider and payor outsourcing; pharmacy, infusion, and home healthcare; outpatient an alternate site services; and medical products manufacturing with a focus on capital equipment. The Firm focuses on recapitalizations, buyouts, and growth capital investments. BPOC was formed in 1996 and is based in Chicago, Illinois.

DEAL STATS #
Overall 22 of 37
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 10 of 18
State (Virginia) 1 of 1
Country (United States) 21 of 36
Year (2014) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-04 Maxor

Amarillo, Texas, United States

Maxor is a diversified pharmacy services business comprised of three primary services: outsourced pharmacy management serving 43 pharmacies, pharmacy benefit management with 400,000 covered lives and specialty pharmacy services administering approximately 1.1 million doses annually. Maxor has operations in fourteen states. Maxor was formed in 1926 and is based in Amarillo, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-06 ISG Holdings

Farmington, Connecticut, United States

ISG Holdings, Inc. (“ISG”) was formed to build a workers’ compensation focused company that offers a suite of products and services to help contain the medical costs related to workers’ injury claims.

Sell $225M
SELLER

Welltower

Toledo, Ohio, United States
Category Company
Sector Real Estate
Employees533
Revenue 6.5B USD (2023)
DESCRIPTION
Entrance to Welltower's corporate headquarters in Toledo, Ohio.
Entrance to Welltower's corporate headquarters in Toledo, Ohio.

Welltower is a real estate investment trust (REIT). The Company's portfolio ranges from healthcare real estate to senior housing communities, nursing/post-acute facilities, and medical office buildings.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-14 Sunrise Senior Living

McLean, Virginia, United States

Sunrise Senior Living, Inc. offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services.

Buy $845M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-13 HealthLease Properties Real Estate Investment Trust

Toronto,, Ontario, Canada

HealthLease owns a modern, high-quality portfolio of seniors housing, post-acute and long-term care communities, with 53 properties in two Canadian provinces and eight U.S. states. The communities are leased to experienced tenant operators under long-term, triple-net lease structures.

Buy $950M
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