A company owned by rich-lister Berridge Spencer has taken a stake in aged-care provider Radius Residential Care, BusinessDesk reports.
In a statement to the New Zealand Exchange (NZX) on Tuesday, Windhaven Care Holdings, part of private equity company Windhaven Investments, said it had spent more than $3.6 million for a 10.6 per cent slice of the company at $0.12 a share.
Radius shares were up 8 per cent to $0.135 on Tuesday on light volumes.
Windhaven is one of several Clime Group subsidiaries owned by Spencer, son of the late John Spencer.
Windhaven chief executive Ben Unger told BusinessDesk the company comes into the stake as a “long-term investor” in the sector.
