Ann: TNK Incubator partner update, page-3

I found this story on AFR in 2018 explaining what Edhod do:

Fund managers know all about valuing child care centre owners. Now they are being asked to take one step back in the supply chain and consider a child care "incubator".Grassroots Developments, formerly known as EDHOD, specialises in selecting sites for new centres, overseeing builds and getting utilisation up to 75 per cent, before flipping them to ASX-listed Think Childcare for a pre-agreed price of four-times earnings.Grassroots Developments is mulling an ASX-listing as it considers ways to evolve its capital structure. Stockbrokers Canaccord Genuity and Wilsons are involved in the review, and introduced founder David Hodge to fund managers as part of a non-deal roadshow recently.Grassroots Developments was set up by accountant David Hodge and is now considering an ASX-listing. Peter BraigIt's understood Hodge pitched the company as a business builder with expertise in site selection, managing development applications, working with developers and getting a centre up and running. It has centres in each Australian state.Should it head to IPO as slated in coming months, Grassroots Developments is expected to seek to raise more than $30 million for about a $75 million pre-money valuation.Fundies were told Grassroots Developments expects more than $9 million profit in the 2019 financial year, although there remains some secrecy around its pipeline for the time being given commercial sensitivities.The key question for fundies was why Grassroots Developments builds centres exclusively for Think Education, and whether that arrangement could change into the future. It's understood the answer was that the deal works for both parties, and is expected to continue to do so.