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0 Adamantem Capital Invests in Heritage Lifecare
Adamantem Capital (Adamantem) today announced it had signed an agreement to invest in Heritage Lifecare. Existing shareholders, including members of the board and the management team, retain an investment in partnership with Adamantem. The acquisition values Heritage Lifecare at an enterprise value of NZ$115 million.
Heritage Lifecare is a New Zealand aged-care and retirement village operator with 969 beds and 320 living units under management across 19 facilities. The nation-wide facilities are located on premium sites and have above industry average occupancy rates. Ten of those sites are part of Heritage’s acquisition pipeline which will be acquired using the funds provided by Adamantem.
0 Australian private equity Adamantem buys into NZ aged-care operator Heritage Lifecare
Australian private equity firm Adamantem Capital has bought into Heritage Lifecare in a deal valuing the New Zealand retirement village and aged-care operator at $115 million.
Wellington-based Heritage Lifecare operates 977 care beds and 312 living units across 19 sites with above average occupancy rates, it said in a statement. The New Zealand firm will use funds from the Australian firm to buy 10 of those sites as part of an acquisition pipeline Adamantem sees as open for further expansion.
0 PEP said to be in bid for Mainland Poultry
Australia’s largest private equity firm, Pacific Equity Partners, is reportedly among those making a bid for Dunedin-based Mainland Poultry.
In February, Mainland’s managing director, Michael Guthrie, confirmed the company had retained ANZ Bank to advise on options for the business, given its capital expenditure requirements.
0 Bluebridge among Barker interests sold to Australians
Wellington’s Bluebridge ferry service is among a parcel of business interests approved for sale to Australian firms last month.
The Overseas Investment Office (OIO) has released details of three transactions it approved in February.
Apollo Bidco, a New Zealand firm owned by Australian private equity fund manager Champ IV Management, bought six companies from the James Barker Shipping Trust and James Barker Family Trust.
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