Embark Early Education (ASX:EVO) has successfully completed the acquisition of seven childcare centers, expanding its portfolio to 36 centers. The acquisitions, initially announced on 26 August 2024, have been finalized with a total purchase price of $20.4 million.
Embark Early Education has expanded its operations by acquiring seven new childcare centers, increasing its total portfolio to 36 centers. This strategic move aligns with EVO's goal to enhance its presence in the early education sector. The acquisitions were completed at a cost of $20.4 million, with a projected 12-month pro forma post-settlement EBITDA of $4.9 million from these centers. The company used cash on hand to finalize the transactions, with one center settling in September and the remaining six on 1 November 2024. Embark Early Education remains focused on providing quality childcare services and continues to pursue growth opportunities in the market.
The announcement was authorized by the Embark Early Education Limited Board of Directors.