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.