Bain Capital agreed on 26 May to sell Estia Health, one of Australia's leading residential aged care providers, to a consortium led by alternative investment firm Stonepeak.
Why Stonepeak-led consortium (with Axight Capital) is buying Estia Health
Stonepeak said residential aged care is an essential service for an ageing population. Estia becomes the second investment for Volarae Living, Stonepeak's social infrastructure platform in Australia and New Zealand.
Deal terms and financing
Stonepeak acquires a majority stake and Axight Capital a minority interest. Terms were not disclosed.
Regulatory approvals and timing
Closing is expected in late 2026, subject to customary regulatory approvals.
Market context
Bain Capital took Estia private in December 2023. During its ownership the operator grew from 73 to 93 homes across New South Wales, Queensland, Victoria and South Australia and now employs more than 14,000 people.
