SYDNEY, AUSTRALIA: The Board of Mayfield Childcare Limited (ASX:MFD) has acquired all 14 Genius Learning childcare centres across to Mayfield. The total acquisition costs is up to $39.2 million.
The transaction significantly transforms both the size and scale of the business, positioning Mayfield as a leading Australian childcare operator, with a portfolio of 36 centres across Victoria, Queensland and South Australia.
Building on this foundation acquisition, is the incubator arrangements that Mayfield and Genius have entered into, that will deliver certainty of growth, providing ongoing and exclusive access to a pipeline of premium, high performing centres.
Mayfield Childcare Chief Executive Officer Dean Clarke said, “Mayfield is entering into an exciting new phase of operations and growth as we expand our business around Australia.
The acquisition of the 14 Genius Learning centres, coupled with the incubator arrangements, represents a substantial step change in the business, both physically and economically.
The overwhelming support we have received from our existing shareholder via the SPP and new institutional investors who have come on board via the Placement, is testament to the value this transaction represents to the business.”
Leave a Reply