Haniel, a German family office, has acquired a controlling stake in KMK Kinderzimmer, one of the country’s largest for-profit childcare providers.
Financial terms were not disclosed.
The deal will see Haniel purchase a majority stake from the organisation’s founders, who will remain minority shareholders and continue to lead the firm as operational managers.
Earlier this month, MergerMarket reported that Cobepa, Triton and Carlyle were among bidders vying for control of KMK Kinderzimmer, which employs around 600 staff and caters to more than 4,000 children.
The transaction points to a deepening desire among European family offices to acquire scaled education provider that generate stable returns over long holding periods. Cognita, the global private school operator, is majority owned by Jacobs Holding, a Swiss family office.
“We want to be ‘enkelfähig’ and build a portfolio of outperforming businesses for a future worth living. Das Kinderzimmer is particularly in line with this, as the company gives all children access to high-quality early childhood care and education. I am also very pleased to partner with Karina and Melf Kruse; two inspiring entrepreneurs who have created an impressive, highly professional organization during the past ten years,” said Haniel’s chief executive Thomas Schmidt.
Date published: 17 June 2021