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Company Overview
Diakon Lutheran Social Ministries (“Diakon”) has been a premier operator in the senior living industry since 1940, with more than 1,800 people employed across its various business units. Twining Village (“Twining”) is a Continuing Care Retirement Community (CCRC) located in Bucks County, Pennsylvania, acquired by Diakon in 2006. Twining’s campus is comprised of 155 senior independent living units, 115 personal care beds (including a 25-bed memory care unit) and 66 skilled-care beds.
Situation
Pursuant to its strategic plan, Diakon determined that the sale of Twining would better position it to continue expansion or enhancement of services in a number of its senior living communities in other markets.
Solution
Diakon engaged Griffin to manage a competitive sale process targeting selected strategic and financial buyers. Pursuant to the engagement and as a result of Griffin’s efforts, a private investor group, MED Healthcare Partners, with extensive experience in senior living, was selected. Despite the impact of the pandemic on the industry, the transaction closed on August 3, 2020.
For more information on this transaction, contact Mitch Smith at 610.478.2043. For more information on Griffin’s services in general, contact any one of our investment banking professionals.
