January 16, 2012, Vancouver, BC – Abacus Private Equity is pleased to announce that it successfully closed a record volume of transactions in 2011, with an aggregate asset value in excess of $2.2 billion. This brings the firm’s total transaction volume since 2005 to over $4.8 billion.
Abacus is a private firm constantly in search of new opportunities to expand its platform. These efforts resulted in the formation of a Life Sciences Fund in 2011, and the completion of the Funds’ first investment. Through the acquisition of Cardio RX Ventures Canada LLC, Abacus has undertaken to fund the late stage development costs of the CardiaPill, a cardiovascular drug currently being developed by Cardio Pharma Inc.
Beyond new ventures, Abacus continues to be active across Canada with existing investments in the Real Estate and Seniors Living sectors. 2011 saw OMNI Health Care, an Abacus Seniors Living portfolio company, named one of Canada’s top 100 Employers for the third consecutive year in a row. In addition, 2011 was a year in which Abacus Real Estate Investments Ltd. (“AbREIL”) opportunistically realized gains on its portfolio investments for its partners, disposing of over 500,000 square feet of office, industrial and retail properties across Canada. These dispositions culminated a 5-year investment and asset management program which outperformed acquisition pro-formas. AbREIL owned these properties in a partnership with Kimco Realty Corp. (NYSE: KIM), a major U.S. REIT. “Abacus is a skilled asset manager, and we are pleased with how they handled the sale of these properties,” said Kelly Smith, managing director of Canadian Operations at Kimco Realty Corp.
Abacus focuses on bringing value to Canadian businesses, regardless of industry, through structured transactions. Abacus maintains strong relationships with the foremost experts in the fields of corporate law, tax and finance, complementing its internal teams to develop and offer unique proposals that culminate in highly efficient business sale transactions and value propositions.
About Abacus Private Equity
Abacus is an independent investment firm which has been successfully acquiring Canadian and international businesses for over a decade. Since 2005, Abacus, directly or indirectly through its investment funds, has closed transactions with an aggregate asset value in excess of $4.8 billion. Entities under Abacus’ management have an asset value in excess of $2.4 billion.
With offices in Toronto, Vancouver, and Montreal, Abacus employs a cross-functional team of over 40 people to assist with the evaluation and completion of its acquisitions and has over 1,700 people in its portfolio companies. Abacus places a special emphasis on the taxation elements of its acquisitions, seeking to provide additional value to vendors through efficient transaction structures.
For further information please visit our website at AbacusPE.com or contact:
T: (416) 214-3336