During December 2022, Next Capital Fund V completed an investment in Country Care Group, an Australian wholesaler and retailer of products to the assisted living and aged care sectors.
Founded in 1997, the business is one of Australia’s largest assistive living wholesaler and retailer, with a network of 18 retail stores and 143 member store locations across Australia. Country Care employs over 320 staff and is headquarter in Mildura, Victoria.
The business operates through three interrelated segments;
- Manufacturing and Wholesale: Manufacture of assistance living products through its brand ‘KCare’ for wholesale and retail distribution. Customers include retail stores (third party and its own retail stores), government healthcare agencies, hospitals, aged care and veterinary businesses. Country Care manufactures products within Australia with two facilities in Adelaide and Sydney.
- Retail: Retail stores that services individual retail clients, therapists-supporting clients, government healthcare agencies, hospitals and aged care. Products are sourced from Country Cares manufacturing arm as well as third party branded products
- Contracts: Contracts that service government agencies. Country Care utilises its own retail stores as well as its member stores to help fulfil state and national government contracts.
Country Care represents a highly attractive opportunity in a stable core end market, with demand driven by an aging population, a non-discretionary product set, and high government funding rates.
