MFD acquires two childcare centres

Mayfield Childcare Limited (ASX: MFD) reports that it has successfully acquired two high-performing childcare facilities, allowing the company to strengthen its position in these critical areas of operation strategically:

1. Sandringham, VIC - The Sandringham acquisition strengthens the Company's Bay side activities and complements Mayfield's current centre in Cheltenham. The centre has 60 permitted spaces, and as of the week commencing 15 May 2023, 86% are occupied. 

2. Home Hill, QLD – The Home Hill acquisition complements Mayfield's current centres in Wulguru and Cannonvale and broadens its activities south of Townsville. The centre has 80 permitted spaces, and as of the week commencing 15 May 2023, 78% are occupied.

The transaction is supported through existing lending facilities, with a total purchase price of AU$2.4 million, and is expected to deliver AU$485 thousand EBITDA in CY23. The purchase price is a multiple of 5.0x CY23.

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