Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Southwest Indiana – Evansville
    • Engage Northwest Indiana – Valparaiso
    • Engage Greater Lafayette – West Lafayette
    • Engage West Central Indiana – Terre Haute
    • Engage South Bend – Elkhart
    • Engage Northeast Indiana – Fort Wayne
    • Engage Central Indiana – Indianapolis
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

Mainstreet Completes Reverse Takeover

Thursday, April 7, 2016 06:38 PM EDT
By Alex Brown
Mainstreet Completes Reverse Takeover Mainstreet Chief Executive Officer Zeke Turner will lead the company.

Carmel-based Mainstreet has announced its affiliate, Mainstreet Investment Co. LLC, has completed a reverse takeover transaction with Canada-based Kingsway Arms Retirement Residences Inc. The new company has been renamed Mainstreet Health Investments Inc.

The transaction was previously announced in November. It approved by KWA shareholders earlier this month and gives Mainstreet a portfolio of 10 senior care properties in and around Chicago.

"Mainstreet has an opportunity to recreate the success it has found in the past by creating value for shareholders," said Zeke Turner, founder and CEO of Mainstreet. "Our pace and scale continue to require significant capital, and with this completed transaction, we’ll be able to continue transforming the seniors care and health care industries."

The company plans to acquire an eleventh property to add to its portfolio in the coming months. The 10 properties that come with the transaction are comprised of over 2,300 beds.

Turner will serve on the company’s board of directors. The company’s senior officers include CEO Adlai Chester, President Scott White and CFO Scott Higgs. White says the company is excited to return to the Canadian public markets.

"What we’re doing now is building on our previous success in the Canadian capital markets, while effecting industry change and leveraging existing relationships to help us grow this portfolio," said White.

Story Continues Below

Most Popular Stories

  • Long-time Indy investment advisor acquired by Ohio firm

  • Purdue to dedicate smart manufacturing facilities

  • New owner sought for historic Attica property

  • St. Joseph County officials begin auction of items at Portage Manor

  • IU researchers use $1M grant to study methadone

  • See the unseen: The silent crisis of youth homelessness in central Indiana

Perspectives

See the unseen: The silent crisis of youth homelessness in central Indiana

See the unseen: The silent crisis of youth homelessness in central Indiana

It is a startling fact that an estimated 7,800 youth experience homelessness in our city every year. These aren't just statistics; they represent the lives of young people, each with a story, a dream, and the potential to thrive if given the opportunity. The shock factor lies in the magnitude of this issue – the magnitude of despair, isolation, and uncertainty that thousands of our city's youth grapple with daily....

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service