CPPIB invests $325 mln in Vestar-backed 21st Century Oncology

Canada Pension Plan Investment Board has made a $325 million investment in 21st Century Oncology, a portfolio company of Vestar.

Based in Fort Myers, Florida, 21st Century Oncology is provider of cancer care services.

As a result of the transaction, Vestar and 21st Century Oncology management will still retain a majority stake in the firm.

According to the company, the capital infusion will help them pay off significant debts and provide them with long-term working capital.

In February, 21st Century Oncology announced that it had received over $11 million in funding from CapX Partners.

CPPIB’s investment in 21st Century Oncology follows its recent undisclosed funding of automotive supplier Key Safety Systems. Also, last month, CPPIB provided $500 million to the Goodman North American Partnership, a joint venture it launched in 2012 with the Goodman Group to invest in logistics and warehouse facilities in major U.S. markets.

Photo courtesy of Shutterstock