“Banner year” for Canadian private equity firm; also announces first acquisition in seniors housing
March 2, Vancouver, BC – Abacus Private Equity (formerly Abacus Capital Corporation) announced today that it completed acquisitions totaling $474 million in 2006, a record for the firm. The company also announced the acquisition of OMNI Healthcare on February 6, 2007, an acquisition valued at over $100 million. The acquisition of OMNI marks the company’s first investment in seniors housing and the first acquisition for Abacus Seniors Living, a division of Abacus Private Equity.
Acquisitions in 2006 included real estate properties, agricultural operations and oil and gas services firms totaling $474 million. The acquired businesses and properties are located in Ontario, Alberta and British Columbia.
“2006 was a banner year for Abacus,” said Gene Gomes, Managing Director, Abacus Private Equity. “We are incredibly proud of the investments we made this past year, satisfied by our maturation as a company, and grateful to our dedicated team. This year is off to a great start with the acquisition of OMNI and we are focused on increasing our reach into key industries such as the retirement industry, in 2007.”
About Abacus Private Equity
Abacus Private Equity Group is an independent, entrepreneurial investment firm that has been acquiring Canadian and international corporations and partnerships since 1996. In the past two years alone, Abacus has acquired close to $1 billion in assets through its affiliated divisions. Abacus possesses depth of knowledge, expertise in diverse industries and substantial resources for new opportunities and is committed to making equity investments for long-term value appreciation.