The deal allows Bright Horizons to operate nearly 1,100 childcare centres across five countries
Allens has advised global private investment firm Bain Capital on the $450m sale of its Australian early education business Only About Children (OAC) to Massachusetts-based childcare provider Bright Horizons Family Solutions.
According to lead partner Noah Obradovic, the transaction “demonstrates that strategic buyers have shifted their priorities from COVID and cash-management and are now positioning their businesses for expansion and future earnings growth through M&A.”
Bright Horizons said that the transaction provides the company with an opportunity to leverage its expertise in childcare and global client relationships. The deal also enhances the provider’s position as a global leader in delivering high-quality early education and childcare services.
Expected to be completed in the coming months, the acquisition also allows Bright Horizons to operate nearly 1,100 childcare centres across the US, the UK, Netherlands, Australia and India.
“We are excited to welcome OAC to the Bright Horizons family,” said Bright Horizons CEO Stephen Kramer. “We have long been interested in Australia as an attractive market for high-quality childcare, with strong demand from working parents, an established funding support system, and a long runway for growth and expansion.”
Obradovic led the Allens’ corporate team on the transaction. He was assisted by partner Tom Story, senior associate Joy Yoon, associate Georgie Leahy and lawyer Patrick Daaboul.