FirstRock acquires Optimum Trading

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FIRSTROCK Private Equity (FRPE) has acquired Optimum Trading, a distributor of medical and dental supplies in Jamaica.

The acquisition now brings to three the number of companies FRPE has acquired in the last 24 months and brings the entity for the first time into the health-care sector.

“Optimum was selected as it meets FRPE’s strategic objectives for acquisitions. Optimum is a resilient business that will add diversity to the FirstRock Private Equity Group. This deal marks the third acquisition for FRPE in just over 24 months and is an important milestone as this acquisition allows us to enter into a new sector. We are excited about the health-care industry and Optimum’s potential growth,” Christopher Yeung, co-founder and managing director of FRPE, said in reaction to the deal.

Optimum is a Jamaican- based health-care service entity that supplies over 400 customers across Jamaica.

The company was started over 30 years ago by current Chairman Sheldon Powe while he was still at university.

The value of the deal remains undisclosed.

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Norman Reid

Chairman,
FirstRock Real Estate Investments Limited

Mr. Norman Reid is the Chairman of First Rock Real Estate Investments. He is a career Banker and has served the Financial Services Sector for over 40 years with his most recent post being Senior Assistant General Manager for Retail Banking at NCB. His expertise includes Risk Management, Leadership, Sales Management and Governance.

He serves as Chairman of the EXIM Bank, and is a Director of the Western Regional Health Authority and Sam Sharpe College. Norman holds a BA in Banking and Finance, a Diploma in Banking (ACIB) and a Diploma in Retail Banking from the BAI (BANK Administration Institute) USA. He is also a Fellow at the Institute of Banking and Financial services in the UK. Mr. Reid was also appointed as a mentor to the Emerging Leader Initiative administered by the Bank Administration Institute.