French nursery operator Grandir is set to acquire Nurture Day Nurseries, a pair of London sites, in a deal that will expand its UK footprint, EducationInvestor Global can exclusively reveal.
This publication has learnt that Grandir, which owns France’s Les Petit Chaperons Rouge and UK-based operator Kiddi Caru, will close the acquisition of Nurture in the coming weeks.
Nurture operates two settings in southwest London that generate annual revenues of £1.6 million and EBITDA of £390,000.
It is privately owned by its director, Manisha Patel.
The value of the transaction is unknown.
Following the deal, Grandir will own around 40 British nurseries.
The transaction is the latest link in a chain of buyouts of UK-based nursery businesses by French operators.
Last February, France’s private equity-backed La Maison Bleue, one of the country’s largest early years providers, acquired The Old Station Nursery group in the UK.
Wielding La Maison Bleue’s checkbook, The Old Station Group has since acquired Premier Nurseries’ two sites in Oxford, and Sandhills Nurseries, a group of six settings near Birmingham and Lincolnshire.
Grandir entered the UK market in early 2017 through its acquisition of Magic Nurseries, which at the time catered to more than 1,000 children through its 16 settings.
Later that year, Grandir bought Kiddi Caru, which at the time had 20 nurseries in central and southern England that provided more than 2,100 places.
According to CrunchBook, Grandir is bankrolled by private equity capital.
Grandir could not be reached for comment.
Date published: 6 March 2020