While the aged care sector is saying it cant make money and wont build more beds, Lend Lease has two private equity firms vying to buy its 31 care facilities at a rumoured $200M+. Archer Capital is said to be ahead of Pacific Equity Partners in the deal. The question is how are they going to achieve more value/return than an experienced operator? The usual concept is that a private equity group will buy cheap, cut waste, energise the business and then sell within about three years.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...