Australian private equity firm Quadrant sells out of NZ village operator Summerset for approx. $154M
Last Thursday Sydney based private equity firm Quadrant sold its remaining 49 million shares at $3.15 each in New Zealands Summerset retirement village operation, netting approximately $154M. This is on top of the 31 million shares it sold in May...
Last Thursday Sydney based private equity firm Quadrant sold its remaining 49 million shares at $3.15 each in New Zealands Summerset retirement village operation, netting approximately $154M. This is on top of the 31 million shares it sold in May this year at $2.98, netting $89 million (total $243M). Summerset is just 14 years old and has 16 completed villages and six in development. 18 months ago their shares were valued at $1.70 meaning they have increased in price by 85% in that time. Quadrant has just finalised buying into Australian aged care with the purchase of Estia Health, which has 10 facilities across Melbourne, for a rumoured $175M.
