Child care firm swallowed by bigger rival
NURSERY services provider First Class Child Care, which has facilities to look after more than 600 children at nine centres across Lancashire and Yorkshire, has been acquired by Just Childcare for an undisclosed sum.
The deal takes Just Childcare’s provision to 32 sites across the North of England.
Directors Andrew and Emma Clifford, who have run FCCC for more than 17 years, are exiting the business.
The takeover has been brokered by specialist property adviser Christie & Co, whose director Rosie Adlem said: “Having known the Andrew and Emma for a number of years, we were very aware of how sensitive a sale this was due to their profile in the sector and so it was important that the process was managed very closely and sensitively.
“We are pleased to report that following a very controlled and discreet campaign, multiple bids were secured just five weeks after initial marketing commenced.
Andrew Clifford said: “We are pleased to confirm the conclusion of the sale of FCCC to highly experienced Nursery Operators, Just Childcare, and we are confident that the nurseries will continue to flourish. Thank you to the team at Christie & Co for a highly professional service.
“FCCC has played a huge part in our life for over 17 years and Emma I are now looking forward to the next chapter both professionally and personally for our young family.”
Courteney Donaldson, head of Childcare at Christie & Co added: “During the last 12 months alone, Christie & Co has visited close to 1,000 nurseries and advised on nursery assets with a combined value of £733.6m.
“With national coverage and sector specific advisors, Christie & Co continues to be the go-to agent in this highly specialist sector and the sale of a company such as First Class Child Care demonstrates the growing demand for both group and individual asset sales across the country.”
A cross-discipline team from Gateley Plc’s Manchester office acted for Just Childcare on the acquisition.
The team comprised of Corporate partner Charles Glaskie, who led on corporate aspects of the acquisition, assisted by Hannah Fletcher, corporate solicitor, and Real Estate senior associate Simon Maddox, who led on the property aspects of the acquisition.
