G8 Education entered a controversial $26 million deal to sell 31 childcare centres to Genius Education, a move that has resulted in severe operational and reputational fallout, culminating in ongoing legal issues for Genius's leadership.
Target Information
G8 Education, a leading childcare operator in Australia, entered into an unconventional $26 million agreement to sell 31 childcare centres to Genius Education. G8 Education operates nearly 400 centres under various brands, including Bambino's and Kindy Patch Kids. Although the company was valued at approximately $600 million as of early 2024, it has faced significant financial turbulence, including losses of $189 million in 2020.
Genius Education, led by Darren Misquitta, was supposed to revitalize these underperforming centres. However, Misquitta has since encountered allegations of fraud unrelated to the childcare sector, raising serious concerns about the viability of Genius and the integrity of the transaction.
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Industry Overview in Australia
The Australian childcare industry has undergone significant transformation over the past two decades. Initially dominated by small operators, it has seen a shift towards larger, for-profi
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invested in
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in 2023
in a Other deal
Disclosed details
Transaction Size: $26M
Equity Value: $600M