Cattaneo Corporate Finance has supported Kindred on acquisition.
Cattaneo Corporate Finance has supported Kindred Education, the operator of day-nurseries and pre-schools, on the acquisition of St Nicholas Day Nursery, taking its number of settings to 45 across London, South of England, East of England and Midlands.
Established more than 20 years ago in Lincoln, St Nicholas is a purpose built single setting with space for 101 children and rated Good by OFSTED. The acquisition helps extend Kindred’s Midlands region into an area of Lincolnshire which is experiencing rapid housing growth and takes its number of settings to 45.
The Cattaneo team of Martyn Pilley and Michael Howell provided acquisition support to Kindred including reviewing the underlying profitability of the target, undertaking detailed financial analysis on the key metrics of the target including assessing its anticipated performance as part of Kindred, assisting with the preparation of documents for Kindred’s internal approval process and analysis of cash and debt adjustments.
Commenting on the acquisition, Nigel Lloyd, Kindred Chief Financial Officer, said:
“We are grateful for the support provided by the Cattaneo team who, having worked with us previously, have a good understanding of both the nursery sector and our own operating model. Their involvement comes at an important time for us as we step-up our acquisition strategy in order to capitalise on the significant number of opportunities that are being presented to us in our regions of focus”.
Martyn Pilley of Cattaneo commented:
“We have considerable experience of managing acquisition processes for clients, working together closely as part of their team and taking the lead in areas where we can help expedite timescales – we are already working closely with Kindred on further acquisitions”.
