Evolve confirms appointment of new country head in NZ, settles five centres
Evolve Education Group has appointed Craig Presland as Chief Operating Officer, New Zealand following the departure of previous country head Tim Wong, who has left his position to return to his Australian based family.
Mr Presland has previous early childhood education and care (ECEC) experience having been the General Manager at Forward Steps, a Macquarie Bank owned and funded Group which had around fifty services and revenues of NZ$30.1 million and was also appointed by McGrath Nichol as CEO of the NZ operations of ABC Learning after the collapse of the Group in late 2008.
Mr Presland was tasked with the responsibility of returning the 127 centre strong ABC New Zealand network to profitability ahead of its eventual sale. Over the course of his two year tenure Group EBITDA rose from zero in FY 2008 to $10.2 million in FY 2010 ahead of its eventual sale.
Since leaving ABC New Zealand Mr Presland has held a range of executive and non executive roles.
“The EVO Board is extremely pleased to be able to appoint an executive of the track record, calibre and operational experience of Craig Presland,” a spokesperson said.
“The Board wishes to thank Tim for his tireless work since his appointment in October 2019. Tim joined under the new Board and set about the challenging but rewarding task of rebuilding EVO in NZ.”
Five centres settled in Australia with five more expected by May 2020
In addition to confirming the change in leadership in New Zealand, Evolve also confirmed that they had settled five ECEC centres in Australia, taking their Australian operations to fifteen centres.
The centres are expected to generate annualised underlying EBITDA of around $3.6m. This does not include allowances for additional EBITDA contribution as part of earn out arrangements within the contracts.
A further five centres are expected to settle by May 2021 which will represent the completion of its most recent round of acquisitions announced 9 March 2021.