The Firm is representing Kohlberg Kravis Roberts & Co. L.P. in connection with the acquisition of the management business of Sunrise Senior Living Inc. for approximately $130 million. The management business will be acquired by a new entity in which affiliates of KKR, Beecken Petty O’Keefe & Company, Coastwood Senior Housing Partners LLC and Health Care REIT will invest. The acquisition is being made in connection with the announced merger agreement between Health Care REIT and Sunrise Senior Living, pursuant to which Health Care REIT will acquire the real estate business of Sunrise Senior Living immediately following the acquisition of the management business by the new entity.
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 31,600 people. As of June 30, 2012, Sunrise Senior Living operated 307 communities located in the United States, Canada and the United Kingdom, with a unit capacity of approximately 29,800 units. Sunrise Senior Living offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services.
The Simpson Thacher team includes Marni Lerner, Chris May, Andrew Nightingale and Megan Vasios (M&A); Scott Kobak and Brandon Greer (Real Estate); Jeannine McSweeney (Executive Compensation and Employee Benefits); Steve Todrys, Jason Vollbracht and Beatrice Larkin (Tax); and Lori Lesser and Mindy Lok (IP).