MindChamps acquires 4 preschool centres in Sydney for $13.1 mil

SINGAPORE (Apr 26): MindChamps PreSchool has inked agreements to acquire four more early learning centres in Sydney, Australia, for a total of A$13 million ($13.1 million).

The acquisition is to be funded with a combination of cash from MindChamp’s IPO proceeds and an acquisition loan, and includes each centre’s respective intellectual property (IP) rights and licenses, among others.

The first three early learning centres, which are located at Ropes Crossing, West Hoxton and Lane Grove, will be acquired for the respective prices of A$3.7 million, A$1.9 million and A$4.1 million via MindChamp’s indirect wholly-owned subsidiary, MindChamps Early Learning & Care @ Cherrybrook.

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