Menarock LIFE Aged Care, which is owned by founders Andrew Seamer and Craig Holland, the former Chief Operating Officer at Deloitte Private, is reportedly looking for an investor to grow the business, according to the Australian Financial Review.
Menarock LIFE Aged Care, founded in 2006, operates 10 aged care homes in Victoria and one each in NSW and Tasmania. It has appointed Ord Minnett's M&A team to find a new partner, the Financial Review reported.
The provider is reportedly on track to deliver a $18.7 million EBITDA this financial year from revenue of $82.9 million. Of its 12 aged care homes, it owns 11 of the properties, and has 21,300sqm of adjacent land on its books. The business is said to be worth $200 million.
We reported in May 2023 and in 2021 that Menarock LIFE Aged Care was for sale.
Attempts to contact the founders and the company had not been returned at the time of publishing.
