American Securities Completes Acquisition of Learning Care Group
NEW YORK, May 5, 2014 /PRNewswire/ -- American Securities LLC, a leading U.S. private equity firm, today announced its acquisition of Learning Care Group (US) Inc. in partnership with the Company's management team. Learning Care Group is the second-largest provider of early childhood care and education services in the US. Financial terms of the transaction were not disclosed.
Learning Care Group focuses on the care and education of children between the ages of six weeks and 12 years. The Company's national platform of more than 900 schools has the capacity to serve more than 100,000 children in 36 states with approximately 17,000 employees. Learning Care Group operates under five distinct brands: La Petite Academy, Childtime, Tutor Time, The Children's Courtyard, and Montessori Unlimited.
"We strive to provide our children with a solid foundation to reach their full potential and develop a life-long love of learning," said Barbara Beck, Chief Executive Officer, Learning Care Group. "That's why our commitment to outcomes-based early education includes outstanding care and significant investments in proprietary, research-based curricula designed to prepare our students for long-term success. We look forward to working with American Securities as a valued partner as we further build our business."
"Learning Care is a great fit for our strategy of investing in market-leading companies," said Kevin S. Penn, Managing Director at American Securities. "We believe that Learning Care Group's industry leadership, combined with its exceptional management team, positions the Company for strong growth. We look forward to working with Barbara and her team to support Learning Care's continued success."
Kaye Scholer LLP served as legal counsel to American Securities, and Debevoise & Plimpton LLP served as legal counsel to Learning Care Group with respect to the transaction. BofA Merrill Lynch and BMO Capital Markets Corp. acted as financial advisors to Learning Care Group with respect to the transaction.
About Learning Care Group (US) Inc.
Headquartered in Novi, Mich., Learning Care Group provides early education and child care services to children ages 6 weeks to 12 years within its portfolio of brands: The Children's Courtyard, Childtime Learning Centers, La Petite Academy, Montessori Unlimited and Tutor Time Child Care/Learning Centers. Learning Care Group operates more than 900 schools (corporate and franchise) across 36 states, the District of Columbia and internationally, and has a system-wide capacity to serve more than 100,000 children. Learning Care Group and its subsidiaries are equal opportunity employers and providers. For more information, please visit www.learningcaregroup.com.
About American Securities LLC
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion. American Securities and its affiliates have approximately $10 billion under management. American Securities is currently investing from its sixth fund. The firm traces its roots to a family office founded in 1947 to invest and manage a share of the fortune created from the growth of Sears, Roebuck & Co in the early 1900s. More information about American Securities can be found at www.american-securities.com.
SOURCE American Securities LLC