Milestone helped us raise over €50m of funding to acquire retirement homes in France. Their support in acquiring the homes and the restructuring of the group was invaluableJean-Pierre Rivière
Renaissance was a pioneer buy and build business in the French healthcare sector in the provision of Assisted Living.
Milestone was introduced to Jean-Pierre Riviere, a seasoned entrepreneur in the healthcare sector in France, and agreed to help him and his management team create a leading independent retirement home operator in France through the acquisition of under-managed family-owned facilities.
The value creation plan was predicated on a number of acquisitions within regional pockets between Paris, Lyon and Marseilles; improving facilities and the quality of care; benefiting from economies of scale and instilling professional management controls to optimise financial performance.
Within four years, 17 acquisitions were completed and integrated including two greenfield sites to create the sixth largest operator of its kind in France with over 1,440 beds, over 450 employees and in excess of €9 million EBITDA. The business was acquired by a trade buyer with Jean-Pierre Riviere continuing in a significant role.
