Edleun expands its growth through initial acquisitions in Ontario
December 12 2011 - 7:00AM
PR Newswire (Canada)
CALGARY, Dec. 12, 2011 /CNW/ - Edleun Group, Inc. ("Edleun" or the
"Company") , the leading provider of quality early childhood
education across Canada, announced today its initial Ontario
acquisitions. "We are extremely excited to begin our expansion into
the Province of Ontario, which highlights our mandate as a truly
national company and builds upon our success in Alberta and British
Columbia," said Mr. Ty Durekas, Edleun's President and CEO. "In
Canada's most populous province we are committed to delivering a
quality educational experience for Ontario's children, families and
their communities which has proven to be appreciated and valued by
parents in our current centres. Edleun's industry-leading offering
of educational curriculum, activity programs, nutritional meal
programs and technology-based learning is making a difference for
the children we serve. Moreover, and of great importance, is that
we have taken leadership to expand and create new state-of-the-art
child care centres to address the shortage in underserved
communities." Edleun's initial entry to Ontario is marked by its
planned acquisition of seven centres, four of which are in the
Greater Toronto Area and three of which are in Windsor. The details
of the Windsor portfolio acquisition, which transactions have
closed, are included herein. It is anticipated that further details
on the centres in the Greater Toronto Area will be outlined
shortly. In Windsor, Edleun is acquiring The Children's House
Montessori portfolio, three centres of exceptional quality that are
the market leaders in this community, for a total purchase price of
$5.5 million. In total, the three well-located Windsor centres
provide 485 licensed child care spaces. Two of the centres were
planned and purpose-built as child care centres in 2006 and 2008
and the third is located in a leased facility with frontage on an
arterial road. Edleun has entered into a long-term lease agreement
for all three centres, with an option extending through 2012 to
purchase the real estate in the two purpose-built centres. The
Children's House Montessori was voted the Best Child Care Centre in
Ontario in 2010, and received the Windsor Chamber of Commerce
business excellence award in 2008. "Edleun is dedicated to
developing our youngest learners. We create a world of learning and
prepare children for the next steps in their education and life.
Our philosophy and commitment is shared by the directors and staff
of all of our new partners in Ontario and we are delighted to
welcome them into the growing Edleun family of early learning and
care centres," said Mr. Durekas. "Joining the Edleun
family will provide the Montessori schools and child care centres
with access to additional educational expertise and resources to
supplement the exceptional learning environments that are already
in place." According to Julie Roy, owner of the three Windsor
Montessori schools that are now part of Edleun, it is anticipated
that the directors and staff of all of the childcare centres and
Montessori schools will remain in place. "We know that we have
experienced and dedicated directors and staff in these schools and
centres who deliver an exceptional level of learning and care to
the children. We understand how important this is, not only to the
children but to their parents and the entire community. We are
committed to fully supporting them," said Mr. Durekas. "We will
continue to be an integral part of our communities with the same
name and the same dedicated staff of professional early childhood
educators. As well, as part of Edleun, we will be able to do even
more for our families and become even more involved in the
communities we serve," said Ms. Roy. This acquisition also marks
Edleun's first centres with Montessori-based programming. The
Montessori program is internationally recognized as a unique,
specialized and differentiated model to help develop skills in
children that have been proven to enable them to excel throughout
their school age years and into their adult years. Edleun
anticipates that the expertise in the Montessori program will
strategically benefit the company enabling it to expand this model
selectively to benefit other centres and communities. "All seven of
the initial Ontario based child care centres will be acquired
utilizing the Company's available cash resources. As such, the
centres are anticipated to be highly accretive to the Company,"
said Dale Kearns, Edleun's Chief Financial Officer "Upon completion
of these acquisitions, the Company's portfolio of quality child
care centres will total 45 centres in three provinces providing
4,711 licensed child care spaces including centres owned and under
development." About Edleun Group, Inc. Edleun is the leading
provider of high-quality, community-based Early Learning & Care
child care centres in Canada offering early education and child
care services to children ages six weeks to 13 years. Edleun is
committed to preparing children for the next step in their
education and life, offering families and employers access to and
choice of quality early childhood education programs, as well as
enhanced opportunities and career advancement for Early Childhood
Educators. Publicly traded on the Toronto Stock Exchange ,
the Company's objectives include the acquisition and subsequent
improvement of existing child care centres and developing new
state-of-the-art Early Learning and Care Centres in underserved
Canadian communities. FORWARD-LOOKING STATEMENTS: Certain
statements in this Release which are not historical facts may
constitute forward-looking statements or forward-looking
information within the meaning of applicable securities laws
("forward-looking statements"). Any statements related to Edleun's
projected revenues, earnings, growth rates, revenue mix, staffing
and resources, and product plans are forward looking statements as
are any statements relating to future events, conditions or
circumstances. The use of terms such as "believes", "anticipated",
"expected", "projected", "targeting", "estimate", "intend" and
similar terms are intended to assist in identification of these
forward-looking statements. Readers are cautioned not to place
undue reliance upon any such forward-looking statements. Such
forward-looking statements are not promises or guarantees of future
performance and involve both known and unknown risks and
uncertainties that may cause the actual results, performance,
achievements or developments of Edleun to differ materially from
the results, performance, achievements or developments expressed or
implied by such forward-looking statements. Forward-looking
statements are based on management's current plans, estimates,
projections, beliefs and opinions. Except as required by law,
Edleun does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates,
projections, beliefs and opinions change. The Company undertakes no
obligation, except as required by law, to update publicly or
otherwise any forward-looking information, whether as a result of
new information, future events or otherwise, or the above list of
factors affecting this information. Many factors could cause the
actual results of Edleun to differ materially from the results,
performance, achievements or developments expressed or implied by
such forward-looking statements. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Edleun Group, Inc.
CONTACT: Ty Durekas, Chief Executive Officer of Edleun Group, Inc.
at(403)705-0362, Dale Kearns, Chief Financial Officer of Edleun
Group, Inc. at(403) 705-0362, or Nick Hurst of the Equicom Group,
Inc. at (403)218-2835.
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