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EVO - Embark Education Group

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Evolve Education Group will provide investors with exposure to New Zealand's growing ECE (Early Childhood Education) industry. Evolve Education has entered into contracts to acquire Lollipops Educare (which owns and operates 30 ECE Centres), an additional 55 ECE Centres and the Home-based ECE service of PORSE.

Proceeds from the IPO, along with bank finance, will be used to fund these acquisitions and also to position the Evolve Education Group to pursue further acquisition opportunities.

http://www.evolveeducation.co.nz
 
Evolve Education Group has made exactly one announcement this year and it has been running hard since it was released on 5 April:

Up from 15c to 38c in five trading sessions.

Not quite sure what's happening here (other than the market expecting a downgrade) but I wish I'd climbed aboard this train a week ago.

 
greggles said:
Not quite sure what's happening here (other than the market expecting a downgrade) but I wish I'd climbed aboard this train a week ago.
Click to expand...
It turned out to be an exciting train ride of the kind you'd expect to find at Disneyland not departing the center of a city.

0.15 to 0.38 in the space of five days and three days later we were most of the way back to where we started.

There does still seem to be buying interest though.
 
Evolve Education Group might be a candidate for "The bottom is in!" thread, as it looks to have finally bottomed out at around 9c and is heading back up again.

On 8 October EVO announced that it has acquired four childcare centres in Melbourne with a total licence capacity of 384 children per day for a total purchase price of $11.8 million, all of which came from cash reserves. The announcement stated that the centres are expected to contribute $10.8 million in annualised revenue and AU$2.5m in annualised EBIT.

Today EVO announced that it has contracted to acquire five childcare centres in the ACT with a total license capacity of 461 children per day. The acquisition price is $12.03 million but no mention of where it's coming from.

It looks like EVO has embarked on a clear strategy of growth through acquisition. It will be interesting to see whether they can effectively turn capital into revenue and then hopefully profit.
 
On October 20th, 2022, Evolve Education Group Limited changed its name to Embark Education Limited.
 
On February 21st, 2023, Embark Education Limited changed its name to Embark Education Group Limited.
 
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