For Purpose Investment Partners (“FPIP”) is delighted to announce that it has signed agreements to acquire Victorian-based residential aged care provider Luson Aged Care and its three residential aged care facilities and development land (together, “Luson”) from Luson’s existing shareholders.
The acquisition will mark FPIP’s first investment into the aged care sector, which has been a key area of focus for FPIP since its inception in 2018. FPIP is focused on pursuing an aged care strategy that focuses on expanding accessible but affordable offerings in independent living through to residential aged care. Its mission is to develop a model of aged care that achieves excellent health and wellbeing outcomes for residents of all socioeconomic backgrounds, attracts top staff and enables residents to age in place with dignity and choice.
The business and assets acquired will be held by a recently incorporated not-for-profit entity FP Aged Care Australia Ltd (“FPACA”). Funds for the acquisition will come from FPIP’s Social Impact Fund I, FPACA board and management and senior lender NAB. Luson will be the third investment made from the Social Impact Fund I, following on from specialist disability accommodation provider BlueCHP Housing and NDIS meal-delivery business Able Foods.
Luson is a Victorian-based aged care provider, and owns and operates three residential aged care facilities, two in the Geelong region (Eden Park and The Vue) and one in Clyde North, south-east of Melbourne (Bloom). It is also the owner of a development site in Rowville with development approval for another residential aged care site. All three of the existing facilities have been either built or significantly refurbished in the past five years, and all contain single-bed ensuite rooms.
Discussions between FPIP and Luson’s existing shareholders commenced approximately six months, ago and came about as a result of the desire of the existing shareholders to find a new, values-aligned shareholder, with access to capital that would see the business through its next phase of growth, which most importantly will involve the development of the site at Rowville.
Nick Yannopoulos will remain in his role as CEO of the business, which will now also be overseen by a deeply experienced board including Chair Toby Hall (former CEO of St Vincent’s Health Australia and Mission Australia), Louise Greene (leading aged care consultant and former Quality Manager at Southern Cross Care), Matthew Filocamo (former General Manager, Residential Care at RSL LifeCare and Director of Operations at Calvary Health Care) and FPIP Executive Director Chris Yoo (Director of home care provider General Homecare).
There will be no disruption to residents or employees of the business during the transition of ownership, and the business will continue to operate under the Luson brand for the foreseeable future.
The transaction is contingent on receiving the necessary approvals from the Department of Health and Aged Care.
For Purpose Investment Partners Founder and Executive Director Michael Traill said “We are very excited to reach an agreement to acquire Luson, following what has been a multi-year process of looking at various aged care assets to find the right entry point for us into the sector. The aged care sector has had a really tough time over the past few years and we believe that investors like FPIP have an important role to play as stewards of these crucial social assets going forward, ensuring residents get a great experience at an affordable price while also making sure that the business is run in a manner that delivers appropriate risk-adjusted returns for investors and attracts further capital to a sector which badly needs it. The business is in great hands lead by Nick and supported by Toby as Chair, and we will look to support them to grow the business over the long term to create a leading for-purpose operator in the sector, in the mould of what Goodstart is for the early learning sector”.
Incoming FP Aged Care Australia Chair Toby Hall commented “We really like the Luson business and management team, and I’m excited to partner with Nick and FPIP to help build a leading for-purpose provider in the sector. It became clear during the early stages of our due diligence that while relatively small, Luson has the systems and clinical governance processes of a large aged care provider. The three existing facilities are well designed and with all single-bed ensuite rooms, are relevant for today’s aged care consumer”.
Luson CEO Nick Yannopoulos added “We are delighted to have found a new investor that shares the same focus on providing excellent health care outcomes for our residents, as well as providing growth capital to the business. FPIP and the new board members’ depth of experience and commitment to the aged care sector aligns with our vision and values. Our passionate and dedicated staff are looking forward to continuing the journey with FPIP, to provide the Luson experience to more residents who deserve the high level of care that we are intent on delivering every day.”
FPIP were advised by Gilbert + Tobin and PwC, while Luson and its shareholders were advised by Thomson Geer, Deloitte and Amicum.
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About Luson
Luson was started in 2015 as a family owned and operated aged care provider committed to creating a boutique environment that is inspiring and engaging, supporting residents’ independence with professional care and love. Luson’s philosophy is to put people first. By creating a culture that prioritises the needs of residents, their families and Luson’s employees, they can provide the highest standards of care for the greatest quality of life.
About For Purpose Investment Partners (FPIP)
For Purpose Investment Partners is a not-for-profit social impact investment manager, created to pursue an important mission; bringing private sector capital and capabilities into sizeable businesses and projects to create significant social impact.
Media contacts
Victoria Adams (Managing Director, For Purpose Investment Partners)
victoria.adams@fpinvest.com.au
0414 699 598
Toby Hall (Incoming Chair, FP Aged Care Australia)
0432 130 004
Nick Yannopoulos (CEO, Luson Aged Care)
0477 886 688
The For Purpose Investment Partners skills education platform, Catalyst Education, has begun trading as For Purpose Education. The transition began on 1 July 2026 and brings the business into closer alignment with the wider For Purpose group.
A name that reflects the mission
FPIP invested in Catalyst Education in 2021 to build a not-for-profit skills education platform and strengthen the pipeline of skilled carers, educators, and support professionals that Australia needs. The new name states that purpose plainly. It also connects the business more visibly to the other organisations we back across aged care, disability support, and community services.
The rebrand changes the name and the look of the business. Its strategy, leadership, and commitment to quality training remain exactly as they were.
The same trusted training organisations
For Purpose Education operates three Registered Training Organisations (RTOs): Selmar Institute of Education, Practical Outcomes, and ARC Training. Together they deliver accessible, industry-relevant training across early childhood education and care, aged care, disability support, health and community services, and business.
In the 2025 financial year (FY25), the business supported 4,100 learners across four states and territories. Of these, 56% were based in regional and remote locations, and 85% of completed learners improved their employment position, compared with an industry average of 65%.
Why this matters
Australia faces a critical shortfall of care workers. Training providers that keep pace with the needs of employers, learners, and communities are central to closing that gap. For Purpose Education has a clear role to play, and we are confident the business is well positioned to grow its contribution.
No change for learners and partners
Nothing changes for enrolled learners, employers, or industry partners. Trainers, support arrangements, partnerships, and funding arrangements all continue as they are.
What comes next
A new For Purpose Education website will launch soon at FPEducation.com.au, creating a single home for the training the business delivers across Australia.
We congratulate the For Purpose Education team on this milestone and look forward to the next chapter.
23 June 2026 - FP Ability is pleased to announce the appointment of Mark Powell as Chief Executive Officer of specialised meal delivery businesses Able Foods and Tender Loving Cuisine (TLC). Mark will commence in the role on 3 August 2026.
Mark brings more than 20 years of senior executive experience in the fast moving consumer goods (FMCG) sector. His expertise spans sales, marketing, procurement, and supply chain. He joins FP Ability from NAFDA, where he served as General Manager Australia and New Zealand. In that role he drove growth, integrated new markets, and managed operations for the member-owned cooperative.
Throughout his career, Mark has scaled businesses, led high-performing teams, and built enduring customer relationships. His focus on consultative planning and his commitment to business development position him well to lead FP Ability through its next phase of growth.
'Mark's experience scaling businesses in the FMCG sector, combined with his alignment to our mission, makes him the right leader for FP Ability at this stage of its growth,' said Rob Blackwell, Executive Chair of FP Ability. 'Able Foods and TLC provide safe, nutritious meals to older Australians and National Disability Insurance Scheme (NDIS) participants every day. Mark understands both the commercial discipline and the social purpose that sit at the heart of these businesses. We look forward to working with him as we continue to grow their impact across the aged care and disability sectors.'
'I am delighted to join FP Ability and to lead two businesses that make a real difference to people's lives every day,' said Mark. 'Able Foods and TLC have strong foundations and committed teams. I look forward to working with them to innovate, broaden what we offer, and reach more of the clients who rely on us.'
The 2026–27 Federal Budget delivered the largest savings package on record ($63.8 billion) alongside a major tax reform package. We have completed an initial review of what this means for For Purpose Investment Partners and the sectors where we invest.
Our overall view - this is a net positive Budget. Our existing portfolio is well positioned. Our pipeline benefits from record housing investment and supply-side reform. The reform agenda creates clear openings for advocacy on issues that matter to our investors and our sectors, and ultimately the people we are creating impact for.
Implications for our portfolio
•Aged care — positive. New capital subsidies of $30 per supported resident per day for newly built homes (payable up to 25 years) directly improve returns on greenfield and expansion stock. A further $1.1 billion sits in Contingency Reserve to implement recommendations from the Aged Care Accommodation Pricing Review.
•Specialist Disability Accommodation (SDA) — neutral. The 160,000 participant reduction is targeted at lower-support-needs cohorts redirected to Thriving Kids and Foundational Supports. Our SDA assets focus on the highest-needs cohorts and are not expected to be materially affected.
•Disability services — mixed. National Disability Insurance Scheme (NDIS) reform is expected to reduce the number of participants by 160,000 to deliver $37.8 billion in savings, and we expect modest near-term volume risk for service providers during the transition. Mandatory registration of high-risk providers and continuation of the Fraud Fusion Taskforce favour quality, registered, scaled operators, providing a structural tailwind for our investment thesis over time.
•Skills education — neutral. No material new measures affecting current operations.
Implications for our pipeline
•Social and affordable housing — positive. Housing investment lifts to a record $47 billion. The negative gearing and capital gains tax (CGT) reform package redirects investor demand from established property to new builds. Build-to-rent developments and private capital supporting government housing programs are explicitly exempt. The new $2 billion Local Infrastructure Fund supports unlocking new supply.
•Broader disability services — positive structural tilt. The same registered-provider and integrity reforms favour quality scaled operators, directly aligned with the FPIP thesis. The $7 billion Foundational Supports and Thriving Kids programs open new state-delivered markets outside the NDIS.
•Early childhood education and care — neutral with marginal upside. Thriving Kids in early childhood settings ($139.7 million over 5 years) may open adjacent revenue stream. The Inclusion Support top-up ($54.8 million in 2026–27) adds modest margin for services supporting children with additional needs. Government funding for the Worker Retention Payment expires on 30 November 2026, with no clarity provided in the budget on whether that will be extended. This could leave a cost gap for providers to manage.
Our advocacy focus going forward
The Budget opens several areas where we will engage constructively with government and industry on behalf of our portfolio and the sectors we invest in.
•Super performance test design. Engaging with the public consultation to support a test that enables industry-fund allocation to productive social infrastructure.
•Aged Care Accommodation Pricing Review. Engaging on the final settings for the Accommodation Supplement uplift and capital subsidies currently held in Contingency Reserve.
•NDIS reform implementation. Supporting smooth transition for participants and providers ahead of the January 2028 eligibility changes, and engagement on Foundational Supports and Thriving Kids design.
•Affordable housing co-investment frameworks. Building on the build-to-rent and government housing program carve-outs to support institutional capital flows into social infrastructure.
For Purpose Investment Partners acknowledges and pays respect to the past and present Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander people.
We believe that diversity, equity and inclusion at For Purpose Investment Partners are critical in our efforts to create significant social impact. Diversity in the team allows us to better represent the diversity of thought and experiences of the communities that we are aiming to serve, promotes a healthy and thriving working environment, and delivers innovative and sustainable outcomes for our communities, our people, our investors and our partners.
