Despite endless stories of doom and recession being fed to us every time we turn the radio on or read a newspaper, it seems that the nursery market is proving to be as strong as ever. Wilmslow-based nursery chain Kids Unlimited, has been sold to its management team in a deal believed to be worth £45m. Demand for private nursery provision is expected to grow by more than 10% to 2010.
Chief executive Lee Pearson, Property & Commercial director Jeremy Clarke, care director Liz Hurley and chairman Graham Smith have taken a majority stake in the business. They have been backed by the Manchester office of private equity house LDC, which has taken a “significant” minority stake.
The deal provides an exit both for private equity house ISIS Equity Partners, which invested in the business in 2001, and for founder Stuart Pickering who set up the business with his wife Jean in 1983.
LDC’s regional chief Grant Berry said that it was keen to invest in the chain because of the quality of its management team, the sector it was in and because of the unique nature of its proposition.
“LDC has a strong track record of working with ambitious management teams to support successful expansion strategies,” said Smith. “Their financial and strategic input will enable us to take the business into its next phase of growth.”