Collins Acquisitions are assisting Edleun expand their child care operations into Ontario and were delighted to see the announcement of a significant group with many more exciting new acquisitions planned for the future…
Calgary, Alberta – Edleun Group, Inc. (“Edleun” or the “Company”) (TSX-V: EDU), the leading provider of quality early childhood education across Canada, announced today its initial Ontario acquisitions.
“We are extremely excited to begin our expansion into the Province of Ontario, which highlights our mandate as a truly national company and builds upon our success in Alberta and British Columbia,” said Mr. Ty Durekas, Edleun’s President and CEO. “In Canada’s most populous province we are committed to delivering a quality educational experience for Ontario’s children, families and their communities which has proven to be appreciated and valued by parents in our current centres. Edleun’s industry-leading offering of educational curriculum, activity programs, nutritional meal programs and technology-based learning is making a difference for the children we serve. Moreover, and of great importance, is that we have taken leadership to expand and create new state-of-the-art child care centres to address the shortage in underserved communities.”
Edleun’s initial entry to Ontario is marked by its planned acquisition of seven centres, four of which are in the Greater Toronto Area and three of which are in Windsor. The details of the Windsor portfolio acquisition, which transactions have closed, are included herein. It is anticipated that further details on the centres in the Greater Toronto Area will be outlined shortly.
In Windsor, Edleun is acquiring The Children’s House Montessori portfolio, three centres of exceptional quality that are the market leaders in this community, for a total purchase price of $5.5 million. In total, the three well-located Windsor centres provide 485 licensed child care spaces. Two of the centres were planned and purpose-built as child care centres in 2006 and 2008 and the third is located in a leased facility with frontage on an arterial road. Edleun has entered into a long-term lease agreement for all three centres, with an option extending through 2012 to purchase the real estate in the two purpose-built centres. The Children’s House Montessori was voted the Best Child Care Centre in Ontario in 2010, and received the Windsor Chamber of Commerce business excellence award in 2008.
“Edleun is dedicated to developing our youngest learners. We create a world of learning and prepare children for the next steps in their education and life. Our philosophy and commitment is shared by the directors and staff of all of our new partners in Ontario and we are delighted to welcome them into the growing Edleun family of early learning and care centres,” said Mr. Durekas. “Joining the Edleun family will provide the Montessori schools and child care centres with access to additional educational expertise and resources to supplement the exceptional learning environments that are already in place.”
According to Julie Roy, owner of the three Windsor Montessori schools that are now part of Edleun, it is anticipated that the directors and staff of all of the childcare centres and Montessori schools will remain in place.
“We know that we have experienced and dedicated directors and staff in these schools and centres who deliver an exceptional level of learning and care to the children. We understand how important this is, not only to the children but to their parents and the entire community. We are committed to fully supporting them,” said Mr. Durekas.
“We will continue to be an integral part of our communities with the same name and the same dedicated staff of professional early childhood educators. As well, as part of Edleun, we will be able to do even more for our families and become even more involved in the communities we serve,” said Ms. Roy.
This acquisition also marks Edleun’s first centres with Montessori-based programming. The Montessori program is internationally recognized as a unique, specialized and differentiated model to help develop skills in children that have been proven to enable them to excel throughout their school age years and into their adult years. Edleun anticipates that the expertise in the Montessori program will strategically benefit the company enabling it to expand this model selectively to benefit other centres and communities.
“All seven of the initial Ontario based child care centres will be acquired utilizing the Company’s available cash resources. As such, the centres are anticipated to be highly accretive to the Company,” said Dale Kearns, Edleun’s Chief Financial Officer “Upon completion of these acquisitions, the Company’s portfolio of quality child care centres will total 45 centres in three provinces providing 4,711 licensed child care spaces including centres owned and under development.”