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Unigestion buys into European elderly home care services provider Home Instead to capture market growth

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Asset manager Unigestion‘s private equity unit has bought into European home care services provider Home Instead.

The firm said it used its Unigestion Direct II and Unigestion Direct II – Diversification Européenne funds to back the business, which provides shopping, cooking and 24 hour care and palliative support predominantly to the elderly.

It is the exclusive franchisee of US-based Home Instead Inc for Switzerland, Austria, Ireland, the Netherlands and France.

The company said it has grown significantly since its launch in 2007 with favourable demographic trends and the prevailing desire of seniors to continue living in their own homes.

Philipp Scheier, principal at Unigestion, said, “Home Instead has enjoyed rapid growth in recent years and we are delighted to be joining forces with Paul Fritz and Verium and pursue a common path to further growth. Our experience in developing companies in the healthcare sector (including Seniocare in Switzerland) and our global network will support the growth of Home Instead in the years to come.”

Unigestion closed Unigestion Direct II in July on more than €600m.

The firm had already deployed over 40% of the capital at the time of closing, including the investments in a Spanish provider of flavourings for vegetarian and vegan food, a US leading developer of specialty precision components for medical devices and a Swiss innovation leader in optical sensors for elevators, escalators and automatic doors.

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