September 2015: PAI Partners, a major European private equity firm headquartered in France, acquires Geriatros from Magnum Industrial Partners.

Geriatros is a leading company in the management of private retirement homes and mental health mainly in the regions of Galicia and Madrid owned by the Spanish private equity firm Magnum Industrial Partners. In recent years, Geriatros focused its strategy on growth via the acquisition and integration of both small local operators and larger regional players and currently manages 45 homes containing more than 6,000 beds.

PAI Partners manages and advises dedicated private equity funds with total assets currently under management of almost €8 billion. Since 1994, PAI Partners has led 54 buyout investments across 10 countries with an aggregate deal value of €38 billion. PAI Partners was already present in the residential home sector in France since June 2014, when it acquired a controlling stake in DomusVi.

SOCIOS acts as advisor to PAI Partners in the design, negotiation and execution of the transaction.