After closing on a large group of Montessori’s in Windsor we are pleased to report the latest acqusiition of a highly regarded group in Mississauga. This was a long process for us to secure this for Edleun and believe the business is safe hands for a long and prospeous future.
The Edleun Group, Inc. (TSXV:EDU) says its has completed the acquisition of three child care centres in the Greater Toronto Area involving 356 licensed spaces in a deal valued at $4 million.
The centres, which have 112, 83 and 161 licensed spaces respectively, are all located in premises under long-term leases “in a major commercial node of the Mississauga, Ont., area.”
All were acquired using the company’s available capital resources and will generate significant and immediate accretion to the company’s profitability, Edleun said in a release.
The company also said that, after due diligence, it had decided not to acquire a 70-licensed-space centre in Airdrie, Alta., a $900,000 purchase it had been previously considering.
Edleun now has a total of 4,641 licensed spaces in 44 early learning and care centres, including centres owned and transactions previously announced to acquire, redevelop or build.