The Sydney-based firm’s $900M Home Care Holding portfolio company has bought a stake in NSW Central Coast home care provider Sue Mann, according to the Fin Review.
The provider, which has been run as a family-owned business for 30 years and operates throughout the Central Coast, Sydney and Hunter region, is just one of a string of successful acquisitions for the group led by Marcus Darville.
As we reported here, they purchased 50% of the WA-based St Ives Home Care from the WA Royal Automobile Club, one of the county’s largest home care providers, for $150M last August.
The firm also bought HHL – now said to turn over $500M a year – in New Zealand and allied health services firm Injury Treatment last year.
Back in 2008, they also picked up NZ’s Summerset retirement villages for $90M before selling out five years later for $424M, and built Estia into a billion-dollar listing over two years, making investors over $200M when they sold out in 2016.
Another sign that the home care sector is no longer the domain of the Not For Profits and smaller operators?