Habit has approaching 300 team members across 26 locations, predominantly in the North Island. The investment from Livingbridge will be used to grow Habit’s service capabilities further.
Livingbridge opened its Melbourne, Australia, office in 2016. Led by Gareth Young, the team made their first investment in TSA Management, a project management consulting firm, in November 2017. TSA has since made two bolt-on acquisitions with Livingbridge support.
The investment in Habit Group is the second platform investment for Livingbridge’s Melbourne office.
Ben Teusse, CEO, Habit Group said:
“We are excited at the opportunity to partner with Livingbridge, an established private equity firm with extensive experience in the healthcare sector around the world. Together we plan to advance the delivery of integrated value-based healthcare and rehabilitation services in New Zealand and further afield”
Gareth Young, managing director at Livingbridge said:
“We were immediately attracted to the partnership opportunity with Habit due to the company’s commitment to quality healthcare outcomes. As one of the most active healthcare PE investors in Europe, we have been actively looking for a healthcare related opportunity since arriving in Melbourne in 2016. We plan to expand Habit’s rehabilitation and occupational health services in NZ and Australia.”
Please note this investment in pending completion.