ISIS Equity Partners has paid £3.7 million to acquire a minority stake in nursery operator Happy Days Consultancy from the South West Ventures Fund.
The investment uses funds from the Baronsmead VCTs, and will support the roll out of four new sites as part of an organic growth strategy to expand towards Exeter and Bristol.
Paul Morris, director for ISIS Equity Partners, commented: “We are delighted to have the opportunity to work with Happy Days in the next phase of its growth strategy. The team has built a high quality business which is well positioned for rapid expansion in the sector.”
Hazlewoods LLP advised on the investment. Legal services were provided by Olswang.
Happy Days operates with 16 sites across the south west of England. The business is the largest nursery chain in the region.
The South West Ventures Fund acquired its stake in 2004.