Mayfield Childcare Ltd (ASX:MFD) has announced it has entered into an agreement to acquire 14 premium childcare centres across Victoria, Queensland and South Australia from Genius Childcare, which will expand the size of Mayfield Childcare Ltd to 36 centres, positioning Mayfield as a leading Australian childcare operator. The acquisition price is up to $39.2m or 4.9x CY22F EBITDA of $8.0m including earn-out of 1.0x CY22F EBITDA (excl. costs).
Shares of Mayfield Childcare Ltd traded 1.67% lower at $1.18/share following the announcement.