EUREKA GROUP HOLDINGS

Eureka Group Holdings (EGH) is an expanding specialist provider of seniors’ accommodation, with operations in Queensland, New South Wales, Victoria and South Australia. The company holds a mix of both freehold ownership of, and management rights to those seniors’ accommodation villages.

Robin Levison was appointed as the group’s Chairman in December 2013and resigned from the Board in March 2017. The Ignition Group of Companies continues to hold a 6 % interest in the company.

On taking leadership he implemented a clearly articulated long-term growth strategy designed to capitalise on the strong underlying fundamentals of the Australian seniors’ accommodation sector by:

  • identifying and divesting lower value/underperforming management rights agreements; and

  • using these proceeds, combined with a balanced mix of equity and debt, to invest in higher yielding ‘bricks and mortar’ village assets and additional management rights.

The strategy pursued by Robin and carried on by the current Board and management has delivered discernible value to shareholders, with the company’s results for FY2019 seeing:

  • Forecast EBITDA of $7.7-8.3M

  • Total Assets at 31 December 2018 of $131M

  • 2,138 units under management

©2019 by Ignition Capital Pty Ltd 2019