Expansion for nursery group following private equity deal
A NORTH West nursery group is set to spread its wings into Yorkshire and the Midlands after agreeing an investment deal with a private equity firm.
Just Childcare, which is based in Greater Manchester and operates six day nurseries in the region, has struck a deal with Phoenix Equity Partners to support further organic and acquisitive growth to build a group of more than 50 sites.
Phoenix is investing alongside the founders of Just Childcare, David and Jacqueline Johnson, having previously worked successfully with Mr Johnson when one of its early funds invested in his previous venture, Acorn Care & Education.
David Johnson, who founded Just Childcare in 2004, added: “Having worked in the children’s sector for more than 30 years, I know that quality is paramount in everything you deliver.
“We have not set a target on the numbers – it depends on the availability of the right sites. Our aspiration is to have a reasonable-sized group in the North West, Yorkshire and Midland. We are excited to be expanding and creating more jobs and providing our service to more parents.”
He said it was “not unreasonable” to anticipate the business growing to around 50 in the next few years.
Commenting on the investment, Barry Robinson, principal at Phoenix said: “David is an experienced and entrepreneurial CEO with whom we have successfully worked before and we are excited at the opportunity to back him and Jacqueline in this new venture.
“This is an attractive sector with clear opportunities to build a significant group and we are proud that as a leading private equity firm we can play a part in making a difference in such an important area of the economy.”
