M&A Deal Summary

QIC Acquires Evolution Healthcare

On December 9, 2021, sovereign wealth fund QIC acquired healthcare services company Evolution Healthcare from Pacific Equity Partners

Acquisition Highlights
  • This is QIC’s 2nd transaction in the Healthcare Services sector.
  • This is QIC’s 1st transaction in New Zealand.

M&A Deal Summary

Date 2021-12-09
Target Evolution Healthcare
Sector Healthcare Services
Buyer(s) QIC
Sellers(s) Pacific Equity Partners
Deal Type Secondary Buyout

Target

Evolution Healthcare

Wellington, New Zealand
Evolution Healthcare is a provider of private hospitals and rehabilitation services in New Zealand and Australia. The company focus on improving the management of private healthcare facilities by attracting and training the best talent, partnering with medical professionals, and healthcare providers to offer patients excellence in healthcare. Evolution Healthcare was founded in 2011 and is based in Wellington, New Zealand.

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Buyer(S) 1

Buyer
DESCRIPTION

Queensland Investment Corp (QIC) is a government owned and funded investment group serving the Australian state of Queensland. QIC has a range of investment strategies including private equity, infrastructure, real estate, hedge funds, and equities. QIC was established in 1991 and is based in Brisbane.


DEAL STATS #
Overall 7 of 8
Sector: Healthcare Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 4 of 4
Country: New Zealand M&A 1 of 2
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Centrio Energy

Chicago, Illinois, United States

Centrio Energy is a provider of district energy platform in the U.S., offering centralized cooling, heating, and power solutions. Centrio Energy is based in Chicago, Illinois.

Buy $950M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 Vector Metering

Wellington, New Zealand

Vector Metering provides innovative smart meter data services for more than two million electricity and gas meters. Vector Metering is based in Wellington, New Zealand.

Buy -

Seller(S) 1

SELLER

Pacific Equity Partners

Sydney, Australia

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.0B AUD
Size Mega
Type Sector Agnostic
DESCRIPTION

Pacific Equity Partner (PEP) is a private equity firm focused on buyout and late stage expansion capital investments in Australia and New Zealand. PEP typically partners with management teams in acquiring businesses and focuses on transactions valued up to AU$1 Billion. The Firm prefers control situations and typically holds investments for three to six years. PEP will not invest in start-ups or unprofitable businesses, as well as gambling or tobacco companies. Pacific Equity Partners was formed in 1998 and is based in Sydney, Australia. The Firm targets various industries.


DEAL STATS #
Overall 19 of 23
Sector: Healthcare Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 5
Country: New Zealand M&A 6 of 6
Year: 2021 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 LifeHealthcare

North Ryde, Australia

LifeHealthcare is an independent medical device distributor in Australia and New Zealand. The business supplies a diversified product portfolio across multiple therapeutic channels including spine, orthopaedics and neurosurgery, amongst others. LifeHealthcare was founded in 2005 and is based in North Ryde, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 WINconnect

Hawthorn, Australia

WINconnect is an owner and operator of 'last mile' network infrastructure within multi-tenanted residential and commercial buildings across Australia. WINconnect was founded in 2005 and is based in Hawthorn, Australia.

Sell -