Evolve buys five new centres in ACT for A$12m

Mon, 09 Dec 2019

Evolve Education Group said it has bought five childcare centres in the Australian Capital Territory for A$12 million and expects to settle the transaction on or about March 31, 2020. "The acquisition will contribute strongly to Australian and group earnings in calendar year 2020 and beyond, further strengthen our presence in Australia as well as establish an impressive first group of centres in the ACT," said managing director Chris Scott in a notice to NZX. The purchase price represents a multiple of 4.3 times centre-based earnings befo...

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