Think Childcare (ASX:TNK) has today announced it's set to purchase four newly constructed, purpose-built Nido childcare services from incubator partners.
The total purchase price is $6.5 million which will be funded by an institutional placement which is expected raise about $18 million.
The centres are located in metropolitan Perth, providing diversification from Think's predominantly Vctorian-based portfolio.
The Acquisitions are being made at a multiple of 4 times EBITDA, subject to earn-out and clawback.
Shares in Think Childcare (ASX:TNK) are in a trading halt and last traded at $1.71.