AFR: Quadrant in exit mode, jettisons myHomecare

February 21, 2024

Date: February 21, 2024

Source: Australian Financial Review


Australian Unity has taken the country’s largest private home care business off Quadrant Private Equity’s hands, marking the buyout firm’s second exit this month.

As this column reported last year, Greenhill-advised Australian Unity had been assessing myHomecare Group as a potential fit with its holdings in banking, financial advice, property and retirement living. It’s expected to pay $285 million compared to earlier expectations of a sale price of as much as $400 million, which sources attributed to skyrocketing labour costs squeezing margins across the sector.

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