Buyout firm Adamantem cleared by OIO to own up to 100% of Heritage Lifecare

Mon, 30 Apr 2018

By Jonathan Underhill April 30 (BusinessDesk) - Australian private equity firm Adamantem Capital has gained approval from the Overseas Investment Office to lift its holding in Heritage Lifecare to as much as 100 percent to give the retirement village operator funds to expand. A fund and a trust managed by Adamantem took control of the Wellington-based company early last year, in a deal valued at $115 million, saying at the time that Heritage had "substantial opportunities to further expand its portfolio." At the time it had 977 care beds...

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