Nido Education acquires 4 child care services for $9.1 million
Key points
- Completion of acquisition of 4 child care services from incubators
- Estimated annualised EBITDA (pre-AASB16) of $1.9 million
- Average daily fee of $197 and total places of 348
Full summary
Nido Education Limited (ASX: NDO) has announced the completion of the acquisition of four child care services from its incubators for $9.1 million. The acquired services have an estimated annualised EBITDA (pre-AASB16) of $1.9 million, an average daily fee of $197, and a total of 348 places. The services are located in South Australia and Western Australia. While the sector remains challenging from a demand perspective, Nido is maintaining a disciplined approach to site selection, focusing on long-term performance. The company is also actively assessing acquisition opportunities outside of its greenfield incubation pipeline, with due diligence underway on a number of assets. Any opportunities progressed will be carefully evaluated to ensure strong alignment with Nido's operating model, long-term strategy, and commitment to quality growth in children and families.
Outlook
The company is maintaining a disciplined approach to site selection, focusing on long-term performance, and actively assessing acquisition opportunities outside of its greenfield incubation pipeline.
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