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EDU HOLDINGS LIMITED — M&A Activity 2017
Jan 15, 2017
64821_rns_2017-01-15_f739586a-4826-4e0f-b5d3-bd95467c3a99.pdf
M&A Activity
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UCW Limited (ASX:UCW) ACN 108 962 152 Level 1, 225 Clarence Street Sydney NSW 2000 P: 02 9112 4540 F: 02 8078 0212 UCWLimited.com.au
16 January 2017
The Manager Company Announcements Australian Securities Exchange
By electronic lodgement
Completion of acquisition of 4Life Pty Ltd
The Board of UCW Limited ( UCW ) is pleased to advise that following satisfaction of the conditions precedent in the Share Sale Agreement, it has completed the acquisition of 4Life Pty Ltd ACN 113 249 175 ( 4Life ).
As announced on 12 December 2016, 4Life is a complementary add-on acquisition for Australian Learning Group Pty Limited ( ALG ), UCW’s operating subsidiary, bringing a suite of accredited education courses in the field of Community Services, which ALG can deliver through its national campus footprint and agent network.
4Life's courses, offered to both international and domestic students, include Early Childhood Education and Care, Individual Support, Disability, Ageing Support, Mental Health, Counselling and Community Services, most of which include a work-integrated learning / work placement component.
Similarly, 4Life will expand ALG’s geographical reach with the addition of a CRICOSapproved Adelaide campus to deliver its Fitness, Massage Therapy, Sport & Recreation Management and Dance Teaching courses.
4Life adds approximately 100 international students to ALG’s growing student population and brings a new competence in work-integrated learning. 4Life’s FY16 revenue was approximately $1.5m[1] .
4Life will be integrated into ALG and the founders of 4Life, who both have healthcare backgrounds, intend to remain with the business.
For further information, please contact:
Adam Davis Lyndon Catzel Chief Executive Officer Chief Financial Officer [email protected] [email protected] 0408 400 888 0414 907 384
1 Based on management accounts provided by 4Life to UCW, which have not been independently audited by UCW. 4Life’s revenue recognition policies differ from UCW’s.