Cattaneo Corporate Finance has supported Kindred on second acquisition in two months.
Cattaneo Corporate Finance has supported Kindred Education, the operator of day-nurseries and pre-schools, on its acquisition of the Whitton Day Nursery group. The acquisition brings Kindred’s number of settings to 48 across London, South of England, East of England and Midlands and marks the second acquisition in two months on which Cattaneo has assisted Kindred.
Whitton Day Nursery was established in 2011, subsequently growing to three settings in Whitton and Twickenham with capacity for 153 children and with OFSTED ratings of Good. The acquisition increases Kindred’s market share in the Southeast, an important geography given the population density of the area.
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, and assisting with the preparation of documents for Kindred’s internal approval process.
Commenting on the acquisition, Nigel Lloyd, Kindred Chief Financial Officer, said:
“The acquisition of Whitton Day Nursery represents a further step in our growth and Cattaneo has again added value to our acquisition process. Their ability to quickly analyse and model financial data and their input into our overall process allows us to speed up the execution of our acquisition strategy, particularly at a time when we are presented with numerous credible prospects.”
Martyn Pilley of Cattaneo commented:
“We are delighted to have been able to assist Kindred with this latest acquisition and look forward to continuing to play a significant role in its acquisition strategy.”
