SINGAPORE (Apr 26): MindChamps PreSchool has inked agreements to acquire four more early learning centres in Sydney, Australia, for a total of A$13 million ($13.1 million).

The acquisition is to be funded with a combination of cash from MindChamp’s IPO proceeds and an acquisition loan, and includes each centre’s respective intellectual property (IP) rights and licenses, among others.

The first three early learning centres, which are located at Ropes Crossing, West Hoxton and Lane Grove, will be acquired for the respective prices of A$3.7 million, A$1.9 million and A$4.1 million via MindChamp’s indirect wholly-owned subsidiary, MindChamps Early Learning & Care @ Cherrybrook.

The remaining centre at Penrith will be acquired at a purchase price of A$3.3 million via the group’s wholly-owned subsidiary, MindChamps Australia.

Upon completion of the acquisitions, MindChamps will have a total of eight early learning centres and two reading & writing centres in Australia, with the number of MindChamps early childhood teachers set to grow to over 200, according to the group.

In its filing on Wednesday, the group adds that the new educators will receive up to 200 hours of extensive training and accreditation, regardless of their early childhood qualifications, under the MindChamps Minds education model.

Shares in the group closed 1 cent lower at 82 cents on Wednesday.