GHD sells Sangro logistics division to Axcel in strategic Germany shift
GHD GesundHeits GmbH Deutschland has agreed to sell its logistics division, Sangro, to the private equity firm Axcel. The deal, announced on 6 March 2026, marks a major shift in GHD's business strategy as it refocuses on its core homecare operations. Founded in 1992, GHD has been under Nordic Capital's ownership since 2014. The company reported total revenue of around €546 million in 2024, with homecare contributing €218 million and wholesale logistics bringing in €263 million. Sangro, based in Erkrath, had been GHD's fastest-growing segment before the sale. The divestment means GHD will lose nearly half of its revenue. However, a long-term procurement and cooperation agreement will keep the two businesses working together. This move follows GHD's recent sales of other subsidiaries, including OTB and a healthcare center in Lindlar. For Axcel, the acquisition represents its first platform investment in Germany. While the deal is expected to close in the first half of 2026, Axcel's position in the German homecare distribution market remains in its early stages. After the sale, GHD will concentrate solely on homecare services. The transaction reduces its revenue base but aligns with its strategy to streamline operations. Axcel, meanwhile, gains an entry point into the German homecare distribution market.
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