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News 42

Canada's OMERS Private Equity acquires Lifeways Community Care

OMERS Private Equity has acquired August Equity's specialist care provider Lifeways Community Care in a deal worth around £210 million.

OMERs is the second Canadian pension fund to make a high profile investment in the UK's social care sector, following Teachers' Private Capital's acquisition of Acorn Education in January 2010.

The terms of the deal were not released, but market sources place the value of the transaction at close to £210 million, representing a multiple of just over 10x.

August Equity is understood to have also received bids from Care UK's owner, Bridgepoint Capital, TA Associates and Russia's Pamplona Capital Partners.

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