December 2024
Bain Capital kicks off dividend recap at aged care biz Estia Health
Sources said the loans are being provided by infrastructure-focused investors including Keppel Infrastructure, Stonepeak and Pacific Equity Partners.
August 2024
Bain Capital a ‘motivated’ buyer of Permira-owned I-MED
A “limited” amount of new information has been shared with a handful of bidders in the past week to help familiarise them with the business.
May 2024
Fundies have Regis Healthcare founder’s stake on their watch lists
The market has a close eye on founding director Bryan Dorman’s stake in the $1.2 billion aged care provider.
March 2024
Include family home in aged care means testing: think tank
Industry providers and the federal opposition are supporting moves to make wealthier retirees pay more for their care.
October 2023
Smorgon family sells $30m Toorak mansion in secret deal
Michael and Hayley Smorgon, members of Melbourne’s billionaire Smorgon dynasty, have sold their family home on St Georges Road in an off-market agreement.
Bain Capital-backed Estia in $400m-plus BlueCross auction
Corporate advisor Canterbury Partners has been tapped to run the auction and received indicative bids over the weekend.
September 2023
Small caps a ‘no-brainer’, says Firetrail’s Hodgens
The investment veteran says the smart money should get ahead of the bigger players and buy into small caps that are cheap and primed for growth.
August 2023
TPG snares funerals group InvoCare in $1.8b win for private equity
Australia’s biggest funerals operator, with brands including White Lady and Simplicity, has agreed to a trimmed back buyout offer.
Bain wins over Estia in $838m victory for private equity
Estia Health, with 73 aged care homes, aims to be an industry consolidator under its new owner Bain Capital, which also owns airline Virgin.
Crazy brave Bain is going again (this time in aged care)
If stepping in to the breach at Virgin Australia wasn’t enough, the private equity company is stepping up the degree of difficulty by buying Estia Health.
June 2023
TPG Capital finds banks ready to fuel PE buyouts. Bain’s turn is next
The big private equity firms need debt so it is worth watching TPG and Bain as they line up funding for InvoCare and Estia Health.
Estia warms to Bain’s $826.8m offers, could consider alternative bids
The company’s largest shareholder said the increase, which sent shares nearly 14 per cent higher, was a “positive outcome” for investors.
Bain edges closer to binding bid for Estia, talks drag on
The aged care provider is chaired by veteran dealmaker Gary Weiss.
May 2023
Bain Capital bunkers down on Estia; IC meeting looms
Estia-suitor Bain Capital is edging closer to a deal with the aged aged-care operator.
Health stocks to win from budget’s tick for bulk-billing
Treasurer Jim Chalmers’ allocation of extra cash to boost immigration and ease the labour shortage will also benefit listed aged care companies.
April 2023
The key to Bain’s Estia tilt
Looming aged care regulatory changes and ongoing staff shortages may influence how much Bain Capital is prepared to pay for Estia Health.
Estia, Regis show there’s life left in aged care
There’s the whiff of a comeback in the aged care sector, with one investor keen to see Estia Health and Regis Healthcare pull off a dream deal.
March 2023
Estia shares surge on $775m takeover
The aged care provider told investors that Bain Capital had made an approach to the company earlier in the week.
Estia Health back in M&A spotlight as buyer sucks up stock
The air raid sirens should be ringing (again) at long-time takeover target Estia Health, with the group rocketing back into favour on seemingly little news in recent days.
January 2023
Seven Group bails on Estia Health, Mac trades stake
Estia Health’s share register has been blown wide open after its biggest shareholder Seven Group sold its blocking stake.