Ashurst advised a banking consortium comprising DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Bremer Landesbank Kreditanstalt Oldenburg (Girozentrale), Deutsche Apotheker- und Ärztebank eG, KBC Bank Deutschland AG and NIBC Bank N.V. in connection with the add-on financing in order to acquire Peter Janssen-Group by Munich nursing home operator Silver Care Group. All members of the banking consortium acted as lenders and arrangers. With regard to the add-on financing, DZ Bank acted as agent and collateral trustee.

Ashurst regularly advises DZ Bank on acquisition financing, and most recently on the financing of the acquisition of VWD Vereinigte Wirtschaftsdienste Aktiengesellschaft (VWD) by financial investor Carlyle.

The Ashurst team was led by partner Anne Grewlich (neé Force), supported by senior associate Derk Opitz, associate Denis Sattler and paralegal Emilie Veyran (all banking, Frankfurt). Tax advice was provided by tax partner Heiko Penndorf and associate Felix Krüger. Luxembourg law aspects were covered by partner Isabelle Lentz and senior associate Françoise Haralamb (both Luxembourg desk, London).

DZ Bank was internally advised by legal counsel Simone Harz.
Peter Janssen Group, based in Wiesmoor, is headed up by managing director Heiko Friedrich.

Due to the takeover of 10 nursing care facilities of Peter Janssen Group, based in Northern Germany, the Munich Silver Care Group now operates 48 full inpatient facilities for seniors with a total of 4,700 nursing places in Germany under the brand names Haus Edelberg, Hildegard von Bingen, Fürsorge im Alter, MediCare, LifeCare, VitaCare, Bürgerpark and Bavaria.

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