Quadrant exits Summerset, buys Estia Health
Quadrant Private Equity has fully exited New Zealand retirement village operator Summerset via the public market, generating an estimated return multiple of more than 3.7x. In the same week, it acquired a majority stake in Australian aged-care operator Estia Health.
The GP sold its remaining 50 million shares in Summerset - a 23.16% equity stake - for NZ$3.10 apiece, according to a stock exchange filing, netting NZ$155 million ($131.15 million). The shares last closed...
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