BlackPeak Capital invests in Romania's elderly residential facilities network by Affinity
Affinity Life Care, a private network of elderly residential centers in Romania, has secured a growth equity investment from BlackPeak Capital. This investment marks the first private equity fund investment in the elderly care sector in Romania.
Currently, Affinity Life Care operates three centers in the Romanian capital with over 400 authorized beds. With this investment, the company plans to expand its operations by opening new elderly care facilities in additional Romanian cities, enhancing its medical and rehabilitation services, and investing in staff development to meet the growing demand for elderly care.
The Affinity model involves operating private centers in central areas for easy access to medical care and frequent family visits. The company offers long-term care and medical recovery services through a fully integrated model.
Virgil Chițu, Romania Lead for BlackPeak Capital, will join the Board of Directors of the Affinity Group following the transaction. Dragos̝ Nicolae Iamandoiu, the majority shareholder of Affinity Life Care, expresses his delight at finding a partner who shares the same values and long-term vision.
The BlackPeak Southeast Europe Growth Equity Fund, which backed this investment, is supported by the European Investment Fund, the European Union, Invest BG, EBRD, IFC, and other private institutional European investors.
Affinity's founder, Dragos Nicolae Iamandoiu, emphasized that partnering with BlackPeak Capital validates their mission to redefine elderly care in Romania through a fully integrated model combining medical, social, and recreational activities tailored to seniors’ needs. BlackPeak Capital’s investment is a significant responsibility for the company, as it signifies a commitment towards current and future residents, employees, and the entire industry.
BlackPeak Capital makes growth equity investments in fast-growing companies in Romania, Bulgaria, Slovenia, Croatia, and Serbia. The company is excited to collaborate with Affinity and support its ambitious growth plans, which center on broadening geographic reach, enhancing care quality, and strengthening operational capacity to become the leading elderly care network nationally.
[1] Affinity Life Care Press Release [2] BlackPeak Capital Press Release [4] European Investment Fund Press Release
(Note: The source of the photo is a press release.)
- Affinity Life Care, a network of elderly residential centers in Romania, has recently secured finance for growth through an investment from BlackPeak Capital.
- The investment in Affinity Life Care marks the first time a private equity fund has invested in the elderly care sector in Romania.
- With this new funding, Affinity Life Care aims to expand its operations, open new elderly care facilities in multiple Romanian cities, improve medical and rehabilitation services, and invest in staff development.
- The BlackPeak Southeast Europe Growth Equity Fund, backed by the European Investment Fund and other institutions, financed the investment.
- BlackPeak Capital's Romania Lead, Virgil Chițu, will join the Board of Directors of Affinity's parent company following the transaction.
- Dragos Nicolae Iamandoiu, the majority shareholder of Affinity Life Care, is pleased to have found a partner with shared values and a long-term vision for the company.
- Affinity's mission is to redefine elderly care in Romania through a combination of medical, social, and recreational activities tailored to seniors’ needs.
- BlackPeak Capital's investment signifies a commitment to the company, its current and future residents, employees, and the overall industry in Romania.
- BlackPeak Capital makes growth equity investments in various industries, including health-and-wellness (senior care), business, personal-finance, lifestyle, technology, education-and-self-development, shopping, men's health, women's health, fitness-and-exercise, career-development, home-and-garden, and travel sectors across Romania, Bulgaria, Slovenia, Croatia, and Serbia.
