Think Childcare announces acquisition of 4 centres and capital raising

Company News

by Anna Napoli

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.

  

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.