Canadian private investment firm Oxford Park Group has acquired more than five percent of the outstanding shares of Extendicare Inc (TSX: EXE), a provider of care and services for seniors in Canada. Oxford said it has initiated discussions with management aimed at improving the company’s share performance and value. It said it may have related discussions with shareholders, debt providers, industry analysts and others. Based in Markham, Ontario, Extendicare operates a network of senior care centres and a home healthcare business. It recently sold its U.S. subsidiary to a private equity-led consortium to enable an exclusive focus on the domestic market.
Oxford Park Group Announces Investment in Extendicare Inc.
TORONTO, July 14, 2015 /CNW/ – Oxford Park Group announced today that it has acquired, through Oxford Park Capital I LP, a position in Extendicare Inc. (“Extendicare” or the “Company”) representing more than 5.0% of outstanding shares of the Company. Oxford Park Group has initiated discussions with the management of the Company and looks forward to constructively working together to improve share performance and create shareholder value. As part of this process Oxford Park Group may have discussions with other shareholders of the Company, debt providers, industry analysts and industry participants regarding value maximization strategies.
“Extendicare has refocused its strategy to the Canadian market and has tremendous long-term potential,” said Phil Evershed, CEO and CIO of Oxford Park Group. “The Company has a strong balance sheet and a number of opportunities going forward and we look forward to working together with the Company’s management and the Board of Directors to continue to create long-term value for all shareholders.”
About Oxford Park Group
Oxford Park Group, through Oxford Park Capital, invests in companies where it is able to work in a collaborative manner with management to enhance shareholder value. Oxford Park Group invests on behalf of its Founders and third party investors.
SOURCE Oxford Park Group
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