Romanian senior living facilities draw investment from private equity firm BlackPeak Capital
In a significant move for the elderly care market in Romania, BlackPeak Capital, a leading private equity firm based in Bulgaria, has made a growth equity investment in Affinity Life Care. This marks the first private equity fund investment in Romania’s senior care sector.
BlackPeak Capital manages two funds with a total of €150 million, typically investing between €5 to €15 million in high-growth SMEs, including healthcare providers, across Southeast Europe. The investment aims to accelerate Affinity Life Care’s expansion across Romanian cities, improve medical and rehabilitation services, and enhance staff development.
Founded in 2019 by Dragos Nicolae Iamandoiu, who remains the majority shareholder, Affinity Life Care is the largest private network of residential centers for the elderly in Romania. The company offers long-term care and medical recovery services through a fully integrated model.
Dragos Nicolae Iamandoiu expressed satisfaction with BlackPeak Capital as a shared values partner, while Virgil Chițu, Romania Lead for BlackPeak Capital, expressed excitement about collaborating with Affinity and supporting its ambitious growth plans. Following the transaction, Virgil Chițu will join the Board of Directors of the Affinity Group.
Affinity Life Care currently operates three centers in the Romanian capital, with a capacity of over 400 authorized beds. The company aims to double its number of authorized beds and continue its development. This partnership is noted as a significant step towards strengthening the elderly care market in Romania, combining BlackPeak’s regional investment experience with Affinity’s healthcare services.
The BlackPeak Southeast Europe Growth Equity Fund is supported by the European Investment Fund, the European Union, Invest BG, EBRD, IFC, and other private institutional European investors. This investment by BlackPeak Capital validates Affinity's mission and the team’s commitment to redefining elderly care in Romania.
BlackPeak Capital supports fast-growing companies in Romania, Bulgaria, Slovenia, Croatia, and Serbia. The investment in Affinity Life Care is a testament to their continued commitment to investing in high-growth sectors across Southeast Europe.
Science and health-and-wellness strategies will be prioritized as Affinity Life Care looks to enhance medical and rehabilitation services with the latest advancements, thanks to BlackPeak Capital's investment. This investor, known for overseeing funds in finance and investing, is making strides in the business sector by supporting growing enterprises like Affinity, particularly those focused on aging populations. The partnership between Affinity and BlackPeak Capital, with shared values, aims to revolutionize the aging care market in Romania, providing a potential model for other high-growth industries across Southeast Europe.
