Business
Sale of nursery group to France's leading chain
Sale of nursery group to France's leading chain.
About this update from Christie Group Plc
[{"type":"text","content":"\n \nRNS Number : 3990U Christie Group PLC 18 January 2017 \n\n18 January 2017\nChristie Group plc(\"Christie Group\" or the \"Company\")\n \nChristie & Co facilitates sale of children's day nursery group to France's leading chain\nChristie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has successfully brokered the sale of Magic Nurseries to Les Petits Chaperons Rouges ('LPCR'), France's leading private nursery chain. \n \nMagic Nurseries were founded by Tom Reed in 2002 and the portfolio has steadily grown via strategic acquisitions of single sites and small regional groups into a portfolio of 16 children's day nurseries located across Leicestershire, Northamptonshire, Cambridgeshire and Hertfordshire. LPCR was created in 2000 as the first provider of employer-sponsored childcare in France, and has since grown into one of the leading premium private nursery Groups in Europe, serving c.12,500 children per day at more that 300 nurseries in France and Germany. LPCR's acquisition of The Magic Nurseries Portfolio represents their first UK platform investment.\nCourteney Donaldson, Head of Childcare & Education at Christie & Co, which has offices across the UK and mainland Europe, including France, commented, \"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 Companies' exit strategy.\" \nNick Brown, Associate Director Christie & Co, commented \"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 shareholder...