Horizon Equity Partners is pleased to announce the first investment of Horizon Growth Fund I, through an investment in Dilectus – Residências Assistidas, S.A., a company operating in the healthcare residences and nursing homes sector in Madeira, specialized in providing care and housing solutions for individuals with varying levels of daily living needs.

Dilectus currently accommodates up to 88 residents and maintains a historical average occupancy rate of 95%. The company has an agreement with the Regional Continuing Care Network, through which it supports individuals with more complex needs when local hospitals reach full capacity — ensuring both consistent demand and long-term service visibility.

In 2023, Dilectus is expected to close the year with a turnover of approximately €2.6 million and a recurring EBITDA of €0.5 million. The company employs around 44 full-time equivalents (FTEs).

In response to growing demand and the limited supply of healthcare residences and nursing homes in Madeira, Dilectus has applied, under the PRR (Recovery and Resilience Plan), for a non-refundable grant to build a new residence in Funchal. The project foresees the construction of a 120-bed facility, which will also benefit from the existing agreement with the Regional Continuing Care Network to accommodate palliative care patients. The total investment is estimated at €15 million.

This investment will support Dilectus’s ambition to consolidate its leadership in the healthcare and assisted-living sector in the Autonomous Region of Madeira, more than doubling its current capacity and addressing one of the most pressing challenges in Portuguese society — an aging population.

Horizon Equity Partners was advised by BDO (Financial and Tax) and Miranda & Associados (Legal).

Horizon Growth Fund I is a private equity fund managed by Horizon Equity Partners, with €70.0 million in subscribed capital, dedicated to investing in the Portuguese lower mid-market buyout and growth segment.

Horizon Growth Fund benefits from the support of Programa Consolidar, managed by Banco Português de Fomento.