Edleun's growth continues with acquisition of Montessori Centre in Ottawa
CALGARY, July 2, 2013 /CNW/ - Edleun Group, Inc. ("Edleun" or the "Company") (TSXV: EDU), a leading provider of quality early childhood education and care in Canada, announces today the acquisition of Manotick Montessori Casa Dei Bambini, a bilingual private school in the Ottawa, Ontario community of Manotick with 71 licensed spaces. Announcement of the transaction, without reference to name, was made in a release on November 18, 2012.
Located in a beautiful woodland setting, this traditional style school house is located in a rapidly growing community in the National Capital Region approximately 25 kilometers from downtown Ottawa. Montessori based, this school has been serving families for the past 14 years. A family oriented community, the area surrounding Manotick is growing at almost double the rate of the Ontario provincial average. The location provides room for future expansion as the population and demand for quality child care continues to grow.
"As we continue to grow in the Ontario market, we believe that Ottawa is a strong and desirable community for that expansion," said Mary Ann Curran, Chief Executive Officer of Edleun. "We are pleased to add another high quality school to our portfolio. This particular centre reinforces our belief in the Montessori model and advances our plan of operating well run, highly occupied centres. This centre is established in the community and complements our previous acquisition of four Montessori centres in the area."
The transaction closed on June 28th, 2013 and was acquired using the Company's available capital resources. The Company now owns and operates 52 child care centres throughout Canada. Edleun - soon to be BrightPath Early Learning Inc. - has child care centres located in Canada's five largest cities (outside Quebec) including Toronto, Vancouver, Calgary, Edmonton and Ottawa as well as in prime locations in Kelowna and Windsor and benefit from the increasing demand for quality child care services in these growing urban settings.
About Edleun Group Inc.
For more information on Edleun Group Inc., visit www.edleungroup.com. As stated in a news release on May 23rd, 2013 Edleun Group Inc. (EDU-V) will transition to BrightPath Early Learning Inc. The change of name will take effect on or around August 1, 2013. The Company's common shares will continue to trade on the TSX Venture Exchange under a new symbol (TSX-V: BPE).
SOURCE Edleun Group
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