Mon, 01 Jul 2013 | BUSINESS SALE
The owner of Busy Bees, the UK’s largest network of children’s nurseries, is setting about finding a buyer, the Sunday Times has reported.
Knowledge Universe, the owner of the childcare provider, which has over 19,500 nursery places in 213 nurseries across the UK, has selected Rothschild to search for a buyer. It is predicted that the nursery chain will sell for up to £200 million, in a deal including its debt.
In the beginning, Busy Bees was operated from a converted house by founders John and Lynn Woodward, alongside their friends Margaret Randles and David Thackray. With a background in care and education, these co-founders had been frustrated by the poor quality of care being offered and so set up their own child-centred nursery.
It has expanded quickly since its first year in 1983, and reported revenues of £111 million for 2012. Its acquisitions have driven this growth, with Just Learning being a recent conquest. Busy Bees’ biggest rival is Bright Horizons.
The nurseries follow the Early Years Foundation stage, which is compulsory for all Ofsted-registered childcare providers.
A Busy Bees nursery in Evesham, Worcestershire, was awarded an outstanding rating from Ofsted, after it was visited in April. The inspector gave it a perfect score for meeting the needs of the children, supporting the children’s wellbeing and the effectiveness of leadership and management.
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