Tue, 03 Dec 2024 | BUSINESS SALE
Private equity firm Livingbridge has bought UK-wide nursery group Kindred from asset manager Unigestion.
Kindred is a provider of early years education for children aged three months to 5 across Southern England and the Midlands. It has almost 50 locations.
It has been sold by global boutique asset manager Unigestion, which first invested in Kindred in 2017 through its Direct Opportunities Fund.
Since then it has driven a targeted programme of investment that has helped steer the company from four nurseries to 48 locations today.
According to Unigestion a key factor in Kindred’s success has been its work to establish a seasoned, experienced management team at the company, led by CEO Ruth Pimentel.
“The team instilled a focus on quality and a ‘cluster-based model’ that ensures each child receives high quality childcare across all locations,” Unigestion said.
Given the continued positive outlook for Kindred, Unigestion said it will continue to support the company alongside Livingbridge with a new investment via the Unigestion Direct III fund.
Pimentel said: "Unigestion's support has been pivotal to our growth strategy. We are grateful to the team for its support over the past years and look forward to continuing this successful relationship alongside Livingbridge."
Pieter-Jan Frederix, Partner at Unigestion, added: “We have enjoyed the journey we have been on with Ruth and the team at Kindred and are proud of the high-quality nursery group we built together. Backing proven leaders in resilient markets alongside like-minded partners is core to our strategy. We are therefore delighted to make a new investment in the next stage of Kindred’s evolution alongside Livingbridge.”
Joe McGee, Investment Director at Livingbridge said he was also excited by the deal. “The team’s dedication to delivering high-quality childcare aligns perfectly with our values and our extensive experience in the education sector,” he said.
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