East Mids nursery chain sold to French giant
Magic Nurseries, a chidren’s day nursery firm that has premises across Leicestershire and Northamptonshire, has been sold to a French rival.
Les Petits Chaperons Rouges (LPCR) has bought all 16 Magic Nurseries. LPCR was founded in 2000 as the first provider of employer-sponsored childcare in France, and has since grown to serving around 12,500 children per day at more that 300 nurseries in France and Germany. LPCR’s acquisition of The Magic Nurseries Portfolio represents its first foray into the UK market.
Christie Group advised on the deal. Courteney Donaldson, head of childcare & education at Christie & Co, said: “We have worked with Magic Nurseries for over a decade, assisting the founders in the expansion of their portfolio. Having completed numerous high profile transactions during 2016, Tom Reed approached Christie & Co seeking confidential advice on the company’s exit strategy.”
Nick Brown, associate director Christie & Co, added: “Our specialist Childcare team were swiftly appointed to run a highly confidential sales process which drew interest from a variety of UK corporate operators, private equity houses, high net worth individuals, and several overseas entrants, including multiple parties based in China, seeking to acquire a high calibre and market leading UK platform. Following an eight week confidential sale process, multiple offers were received from a variety of eager potential purchasers, which culminated in Tom Reed and his fellow shareholders selecting LPCR as their preferred purchaser because of their shared cultural values and commitment to delivering exceptional services to families and children in their care.”
