Evolve’s $11.8m for Melb childcare centres

Evolve Education Group has completed the $11.8 million acquisition of four childcare centres in Melbourne in a move the New Zealand and Australian operator says will add $10.8 million of annualised revenue.

Evolve, which in May raised about $60 million in capital, says the acquisition of the centres with a total capacity of 384 children was funded from existing cash reserves.

“The acquisition of these premium centres is an excellent start to our growth strategy in Australia and we are excited about future opportunities currently present in the Australian market,” Evolve managing director Chris Scott said.

AAP

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