Curro Holdings, the burgeoning private-schools business controlled by PSG Group, could spend more than a quarter of its envisaged R2.2bn capital expenditure budget on acquisitions in the 2018 financial year. At an annual general meeting on Monday, Curro CEO Andries Greyling said five possible acquisitions could be clinched at the end of this financial year to December. "There are more acquisitions in the offing for 2018. Our balance sheet is well geared for expanding this year." Greyling cautioned that a big acquisition was unlikely, adding that price expectations in the remaining large, private school businesses were steep. "The pricing has become ridiculous. We are more likely to look at opportunities in smaller schools." He pointed out that Curro, which since listing in 2011 had taken over brands such as Hillcrest, Aurora, Waterstone, Grantleigh and St Dominics, had a strong track record in markedly improving profitability in acquired schools. Curro’s share price, which has been ...
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