Justin Laboo shines in child care sector while others fail

The ex head of Aveo Retirement, Justin Laboo, has taken Affinity Education Group in three months from an initial listing price on the Australian Stock Exchange of $1.00 to today’s price of $1.50. A relatively new business, it has succeeded where competitor Sterling Education has failed. Sterling also tried to list on the Stock Exchange at a value of $200M, backed by Macquarie Bank, but last week failed to get investor support. This week Sterling was taken over by G8 Education for $228M. Laboo led Aveo through the GFC from 2007 to September 2012, Affinity Education Group was established in May last year and owns 57 child care centres and manages a further 11 across QLD, NSW, VIC and NT.