Milford Asset Management says the proposition behind the Evolve float is risky but that it is a punt which has some chance of paying off.
Evolve will be using the more than $132 million raised in its sharemarket float to acquire 57 childcare businesses, led by the Lollipop and Porse companies, from 41 separate vendors.
Brian Gaynor Photo: Supplied
Milford executive director Brian Gaynor said Evolve's management team would be the key to its success.
Evolve's chair Norah Barlow - the former chief executive of the retirement village operator, Summerset - said she had a lot of experience running businesses which are dependent on Government funding.
