Evolve Education

Canaccord Genuity acts as Lead Manager and Bookrunner to a AUD$18.9 million placement for Evolve Education Group Limited

Canaccord Genuity is pleased to announce the completion of an institutional placement raising gross proceeds of AUD$18.9 million for Evolve Education Group Limited (“Evolve”) (NZSE:EVO / ASX:EVO). The transaction received strong support from new and existing institutional and sophisticated investors from Australia and New Zealand. Evolve’s directors and senior management also committed to participate in the capital raising.

The proceeds of the placement will be used for debt reduction and acquisition funding, and provides Evolve with increased flexibility to implement its Australian expansion strategy.

Evolve is a leading childcare and education centre operator with over 120 centres located in the main areas of New Zealand and a growing portfolio of 10 Australian centres.

Canaccord Genuity acted as Joint Lead Manager to Evolve’s ~A$60 million capital raise in June 2019, and this successful transaction demonstrates Canaccord Genuity’s ability to develop long-term partnerships with its growth clients.

Canaccord Genuity acted as Lead Manager and Bookrunner for the transaction. The Canaccord Genuity team included Daniel Baohm, Alex Berezner and David Lenormand from Corporate Finance, with significant support provided by Alex Unsworth and Will Morley from Institutional Sales.