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Insurance company Australian Unity has acquired resi-communities portfolio, Greengate Partnership.
Firm: Allens (Australian Unity).
Value: $65 million.
Area: Corporate.
Key players: The Allens team was led by partner Mark Malinas, who was supported by senior overseas practitioner Jon van der Walt.
Deal significance: Mr Malinas congratulated Australian Unity on what he called a “significant acquisition”, consistent with the company’s growth strategy.
“The combination of Australia’s ageing population and renewed focus in the sector following the Aged Care Royal Commission is leading to a consolidation in the sector. We expect aged care will feature in the M&A headlines for some time,” he said.
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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