EQT Infrastructure Acquires Icon Group, Australia's Largest Integrated Cancer Care Provider

Barings and QIC Lead A$370M Equity Raise for Pacific Energy Group

July 22, 2025

Renewable Energy

Barings and Queensland Investment Corporation (QIC) co-led an A$370 million equity raise for Pacific Energy Group (PEG), Australia's largest remote energy platform. The growth capital will fund PEG’s long-term investment plans, refinance the business, and support delivery of its renewable and hybrid energy project pipeline across Western Australia and the east coast. Campbell Lutyens acted as placement agent for the raising.

EQT to Acquire VetPartners from National Veterinary Associates

October 11, 2023

Veterinary

EQT has agreed to acquire VetPartners, the largest provider of veterinary and animal health services in Australia and New Zealand, from National Veterinary Associates. VetPartners operates a network of 267 clinics and specialty hospitals with over 4,300 clinical and support staff; EQT says it will invest in diagnostic equipment, technology, recruitment and training to support continued growth and improved clinical outcomes. The transaction is subject to customary approvals and is expected to close around the end of the calendar year.

EQT Infrastructure Acquires Stockland Retirement Living from Stockland Group

February 22, 2022

Healthcare Services

EQT Infrastructure V has agreed to acquire Stockland Retirement Living from Stockland Group for A$987 million. The deal covers a portfolio of 58 villages housing over 10,000 residents across Australia’s eastern seaboard; Stockland’s retirement living team will transfer to EQT on completion and the buyer plans to invest in service expansion and digital capabilities.

EQT Infrastructure (APVG) Agrees to Acquire Metlifecare via Scheme

December 29, 2019

Healthcare Services

Asia Pacific Village Group Limited (APVG), owned by EQT Infrastructure IV, has entered into a Scheme Implementation Agreement to acquire 100% of Metlifecare. The deal was announced in two versions: an initial offer of NZ$7.00 per share (approx NZ$1.5bn) and a later revised SIA at NZ$6.00 per share (approx NZ$1.3bn); NZ Super (holding ~19.86%) has committed to vote in favour and the parties agreed to discontinue related litigation.

MC Group (Arcapita Portfolio) Acquires Icon Identity Solutions from Merit Capital Partners

September 23, 2019

Building Products

Arcapita’s portfolio company MC Group acquired Icon Identity Solutions, a leading U.S. signage and brand-implementation company, from Merit Capital Partners in August/September 2019. The acquisition expands MC Group’s service offering and national footprint—combining MC’s energy services with Icon’s interior, remodel and signage capabilities—while keeping Icon’s Rolling Meadows, Illinois office as a secondary operations base.

Integrated Oncology Network Acquires e+CancerCare

June 27, 2019

Healthcare Services

Integrated Oncology Network (ION), a platform backed by Silver Oak Services Partners, has acquired e+CancerCare, a Nashville-based operator of outpatient cancer care centers. e+CancerCare operates 21 centers across ten states; the acquisition, together with ION’s prior Gamma West deal, creates a combined oncology platform with 51 locations across 17 states and expands ION’s capabilities in medical and radiation oncology and diagnostic services.