Busy Bees sale to Canadian pension fund completes
REGIONALLY-based nursery group Busy Bees has been sold to the Ontario Teachers Pension Plan for an undisclosed sum.
Believed to be the largest nursery group in the UK, Burntwood-based Busy Bees operates 213 nursery sites across the UK.
It was founded in 1983 by three families, who still run the business today. They were unhappy with nursery care provision in the Walsall area and so decided to set up their own business.
Today it employs more than 3,500 staff and posted revenues of £110m in 2012. The acquisition by the pension fund gives an exit to current owner Knowledge Universe.
Busy Bees chief financial officer Simon Irons said: ‘Under the ownership of Knowledge Universe we have been able to both develop our position as the UK’s leading nursery chain.
“This deal sees our hard work rewarded and I am looking forward to both strengthening and expanding our position during our next phase of growth.”
Manchester and London corporate law firm gunnercooke advised Busy Bees management on the deal.
A team led by gunnercooke partner Nick Ducker advised on the sale.
He said: “We are delighted to have been able to work with Simon and his team on this transaction. We have advised the group on a number of matters, gaining an in-depth understanding of just how driven they are – so I am delighted that we were able to structure a deal that sees them reap some of the benefit from their hard work.”
