Edleun Group Inc. (TSX-V:EDU) said on Sunday that it has entered into agreements to acquire the Ottawa Montessori centre, as well as two child care centres in Edmonton, for $1.8 million.
The Ottawa property has “room for expansion” as the area has a lot of high-income residents and they are expecting the demand for child care spots to grow, the company said in a news release.
“The Ottawa centre is well-established in the community and complements our recent acquisition in this important, growing market,” stated Edleun CEO Mary Ann Curran.
The press release issued Sunday did not identify the location of the Montessori school or the vendor. Company officials could not be reached comment Monday.
The company announced plans in August to buy four other local Montessori centres in the area for $2.3 million.
Edleun currently operates 5,010 licensed child care spaces at 50 different centres.
Montessori schools are privately operated. They make their own curriculum as opposed to using topics set out by provincial governments.
They allow students to set their own pace of learning and teachers to alter the curriculum based on the needs they observe in students, according to the Canadian Council of Montessori administrators.
Edleun has been criticized by the Coalition of Child Care Advocates of B.C., which advocates for a national non-profit child care system. It commissioned Gerald Dragomir of Pace Accounting Inc. to pen a report that called Edleun’s business model “speculative” and questioned its potential for profitability.
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