ATLANTA, June 16 /PRNewswire/ -- Roark Capital Group, an Atlanta-based
private equity firm, announced today that its affiliate has acquired
Primrose Schools. Headquartered in Acworth, Georgia, Primrose Schools is a
leading provider of education-based early-child-care services. Primrose was
founded in 1982 and operates as the franchisor of 182 private child care
centers generating approximately $275 million in system-wide revenues in 15
states across the U.S.
The acquisition of Primrose Schools is Roark's 14th in the franchise
sector. Roark's other franchise businesses include Carvel, Cinnabon,
Schlotzsky's, Moe's Southwest Grill and Seattle's Best Coffee International
(all of which are owned by affiliates of Focus Brands, a Roark platform
company), McAlister's Deli, Money Mailer, Fast Signs and Batteries Plus.
Roark's 14 franchise brands collectively have more than 13,500 points of
distribution, 2,500 franchisees and $3.2 billion in system-wide revenues in
50 states and 33 countries.
"We are very excited to partner with CEO Jo Kirchner, the Primrose team
and its franchisees," said Neal Aronson, Founder and Managing Partner of
Roark Capital Group. "Primrose Schools is an industry leader that provides
exceptional value to its children, parents and franchisees. We are thrilled
to help continue the thoughtful and accelerating growth of the system while
maintaining the high level of integrity for which Primrose is known."
Kirchner, who is investing alongside Roark in the transaction, will
continue to lead the company as CEO. "Roark Capital shares the genuine
integrity and guiding principles on which Primrose operates," said Jo
Kirchner, President and CEO of Primrose Schools. "Roark's investment
approach and experience in the franchise industry will enhance our ability
to execute our growth strategy while maintaining Primrose's high quality
experience for children, parents and our franchise system."
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that
specializes in business and consumer service companies with attractive
growth prospects and revenues ranging from $20 million to $1 billion.
Specific areas of focus include franchise, direct marketing, business
services and financial services. The firm has more than $1.5 billion of
equity capital under management. For more information, visit
About Primrose Schools
Founded in 1982, Primrose Schools is the country's leader in early
childhood education. Primrose Schools' foundation is based on providing
quality, early education and child care services with a balance of
learning, character development and play. Developed by and taught
exclusively at Primrose Schools, the school's Balanced Learning(R)
curriculum dynamically blends child-initiated play and teacher-guided
instruction. The company's success, fueled by parents' demand for quality
child care, is sustained by individual school owners and teachers.
Primrose Schools has achieved accreditation status from the Commission
on International and Trans-Regional Accreditation (CITA), which is managed
by two participating regional commissions: Southern Council on
Accreditation and School Improvement (SACS CASI) and North Central
Commission on Accreditation and School Improvement (NCA CASI). Although
these institutions have been evaluating schools and colleges for more than
100 years, Primrose was the first educational preschool in the United
States to achieve this award. Primrose Schools currently operates more than
180 schools in 15 states. For more information, visit
Contact: Kathy Potaniec
Fishman Public Relations
(847) 945-1300, ext. 259
SOURCE Roark Capital Group