Essential reading for education companies worldwide
 
 
Remember me:
Skip Navigation LinksEI article
Evolve acquires centres in the Australian Capital Territory

Auckland-based New Zealand and Australian childcare and education centre operator Evolve Education Group has contracted to acquire five childcare centres in the Australian Capital Territory (ACT) with a total licence capacity of 461 children a day.

The acquisition contracts are conditional on satisfactory financial and legal due diligence.

The acquisition price is A$12.03 million (£6.2 million), which Evolve stated represents a 4.3x multiple of centre-based EBITDA. The company added that it expects settlement to occur on or about 31 March 2020.

Evolve Education Group managing director, Chris Scott (pictured) said: “The acquisition will contribute strongly to Australian and group earnings in CY20 and beyond, further strengthen our presence in Australia, as well as establish an impressive first group of centres in the ACT.” 


Related articles:


Posted on: 10/12/2019




Latest news

17/01/2020
Kayleen and Larry Ferguson are giving $50 million from the Ferguson Family Foundation to transform the College of Agricultural Sciences and Natural Resources.
17/01/2020
Riverston Group, a privately owned niche school operator has announced 2018-2019 EBITDA in excess of £1.15 million.
17/01/2020
New York City-headquartered education technology holding company Aspen Group today announced the pricing of its underwritten public offering.
17/01/2020
UPP Group Holdings, which provides on-campus residential and academic accommodation infrastructure, and UPP REIT Holdings, have appointed Elaine Hewitt as chief executive.
17/01/2020
An unidentified expanding family run nursery group has acquired Fingerprints Nursery in Cleckheaton, West Yorkshire.
17/01/2020
Online career training school MedCerts has appointed Kelly Hover to the newly created role of executive vice-president of operations and student engagement.
17/01/2020
GradGuard has appointed Derrick Shy as vice-president of campus development.
17/01/2020
Bright Scholar Education Holdings has announced net income of ¥204.3 million (£22.8 million) for the first quarter of its 2020 fiscal year.
17/01/2020
Private investment firm Veritas Capital says its affiliate is acquiring Campus Management Acquisition Corp and Edcentric Holdings from private equity firm Leeds Equity Partners.
17/01/2020
Foresight Group, a UK-based private equity firm, has appointed corporate financiers from KPMG to oversee an auction of its stake in Poppy & Jack’s, a group of nine nurseries in the North of England, EducationInvestor Global can exclusively reveal.



Europe | UK M&A

Several sizeable private equity-backed UK training providers are set to hit the market in the coming months. Josh O'Neill considers the driving forces behind consolidation in this sector, and why these businesses are likely to fall back into the hands of buyout funds
Read more...


my images


Europe | Movers & Shakers

Jamie Beaton, the 24-year-old co-founder and chief executive of Crimson Education, gives Simone Rensch a look inside the $245 million business he built while simultaneously getting degrees from Harvard, Stanford and Oxford
Read more...