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.
A first: residents petition council wanting an over-55s retirement community
A petition signed by more than 100 people within four days in Bannockburn, 88km southeast of Melbourne’s CBD, demanding a lifestyle village was raised at Golden Plains Shire’s council meeting. “We would like to ask our elected council to encourage...