Partners Group-owned KinderCare Education plans to collect first-round bids in its sale effort next month, said three sources familiar with the matter.
One of the sources also said the company would consider a majority sale. On 12 May, this news service reported that the company was exploring a 50% stake sale and would be marketed on USD 325m of EBITDA. In June, Mergermarket reported that the Lake Oswego, Oregon-based early childhood education firm is working with financial advisor Harris Williams.
The first source and the second source said bids will be collected after Labor Day. A third source said the process has attracted a large number of financial sponsors.
Partners Group acquired Knowledge Universe’s US early childhood business in July 2015. It said at the time that KUE was the largest for-profit provider of early childhood education in the US and the parent company of KinderCare Learning Centers, as well as the brands Children's Creative Learning Centers and Champions.
In November 2021, KinderCare Education announced the launch of an IPO, but a listing never took place.
KinderCare has been acquisitive. Most recently, in September 2022, the company acquired Crème de la Crème, with 47 centers across 14 states. Terms were not disclosed.
Partners Group declined to comment and KinderCare did not return a request for comment.
