Collins Acquisitions assisted Edleun in their recent acquisitions announced in Toronto. Below sets out what was specifically bought and how it has enhanced Edleun’s portfolio.
Edleun Group, Inc. (TSXV:EDU) (“Edleun” or the “Company“), the leading provider of quality early childhood education and care in Canada, announced today that it has completed the acquisition of two Montessori centres located in Ajax and Markham, Ontario and a centre in Airdrie, Alberta previously referenced in the press releases dated June 11 and May 30, 2012, respectively. The Company has also successfully negotiated long term leases for all three locations. Purchased for $1.1 million, these acquisitions will add a total of 245 licensed childcare spaces in prime locations, with 194 in the Greater Toronto Area and 51 in the Calgary Region.
“We continue to add to our presence in Alberta and Ontario due their respective strong attributes,” said Dale Kearns, President of Edleun. “Airdrie, located just north of Calgary, is a good example of an underserved market with market indicators for immigration, birth rates and incomes in Alberta generally, and the Calgary region specifically, exceptionally strong. In Ontario, theses new acquisitions are in locations that are in close proximity to Fortune ranked corporations and have strong local demographics.”
As these acquisitions have been fully funded from the Company’s in-place capital resources, these centres will be highly accretive to Edleun’s cash flow commencing in the current third quarter of 2012.