18 Nov 2014

Milford: Risky float could pay off

7:50 am on 18 November 2014

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.

Milford Asset Management executive director Brian Gaynor

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.