PEP eyes up rest home operator

Monday 4 October 2004

A Sydney private equity firm is expected to buy Guardian Healthcare Group - a rest home operator that had been touted as a likely sharemarket listing.

By The Landlord

The Business Herald was told by one source yesterday that Pacific Equity Partners was the preferred bidder and by another that PEP was on the verge of signing a deal to buy the Wellington company.

Guardian Healthcare describes itself as the country's largest private owner and operator of rest homes and hospitals.

Investment bank Goldman Sachs JBWere is running the sales process.

A Goldman Sachs private equity fund last year put $5 million into the expansion of Guardian, previously known as Harbourside Group Holdings.


Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer