Christie Group PLC Sale of nursery group to France's leading chain
January 18 2017 - 2:00AM
RNS Non-Regulatory
TIDMCTG
Christie Group PLC
18 January 2017
18 January 2017
Christie Group plc
("Christie Group" or the "Company")
Christie & Co facilitates sale of children's day nursery
group to France's leading chain
Christie Group plc (CTG.L), the leading provider of Professional
Business Services and Stock & Inventory Systems & Services
to the leisure, retail and care markets, is pleased to announce
that Christie & Co, its specialist provider of agency and
advisory services, has successfully brokered the sale of Magic
Nurseries to Les Petits Chaperons Rouges ('LPCR'), France's leading
private nursery chain.
Magic Nurseries were founded by Tom Reed in 2002 and the
portfolio has steadily grown via strategic acquisitions of single
sites and small regional groups into a portfolio of 16 children's
day nurseries located across Leicestershire, Northamptonshire,
Cambridgeshire and Hertfordshire. LPCR was created in 2000 as the
first provider of employer-sponsored childcare in France, and has
since grown into one of the leading premium private nursery Groups
in Europe, serving c.12,500 children per day at more that 300
nurseries in France and Germany. LPCR's acquisition of The Magic
Nurseries Portfolio represents their first UK platform
investment.
Courteney Donaldson, Head of Childcare & Education at
Christie & Co, which has offices across the UK and mainland
Europe, including France, commented, "We have worked with Magic
Nurseries for over a decade, assisting the founders in the
expansion of their portfolio. Having completed numerous high
profile transactions during 2016, Tom Reed approached Christie
& Co seeking confidential advice on the Companies' exit
strategy."
Nick Brown, Associate Director Christie & Co, commented "Our
specialist Childcare team were swiftly appointed to run a highly
confidential sales process which drew interest from a variety of UK
corporate operators, private equity houses, high net worth
individuals, and several overseas entrants, including multiple
parties based in China, seeking to acquire a high calibre and
market leading UK platform. Following an eight week confidential
sale process, multiple offers were received from a variety of eager
potential purchasers, which culminated in Tom Reed and his fellow
shareholders selecting LPCR as their preferred purchaser because of
their shared cultural values and commitment to delivering
exceptional services to families and children in their care."
Tom Reed, Magic Nurseries Founder and Director who will be
staying with the company said, "When the time came for us to
consider the sale of our business, Courteney Donaldson at Christie
& Co was our first and only port of call."
Enquiries:
Christie Group plc
Courteney Donaldson 0161 833 6924
Head of Childcare & Education, Christie & Co
David Rugg 020 7227 0707
Chief Executive
Dan Prickett 020 7227 0700
Chief Financial Officer
Panmure Gordon (UK) Limited:
Dominic Morley / Charles Leigh-Pemberton 020 7886 2906
Nominated Adviser & Broker
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional
business services group with 46 offices across the UK, Europe and
Canada, catering to its specialist markets in the leisure, retail
and care sectors.
Christie Group operates in two complementary business divisions:
Professional Business Services (PBS) and Stock & Inventory
Systems & Services (SISS). These divisions trade under the
brand names: PBS - Christie & Co, Pinders, Christie Finance and
Christie Insurance: SISS - Orridge, Venners and Vennersys.
Tracing its origins back to 1846, the Group has a long
established reputation for offering essential services to client
companies in agency, valuation services, investment, consultancy,
project management, multi-functional trading systems and online
ticketing services, stock audit and inventory management. The
diversity of these services provides a natural balance to the
Group's core agency business.
For more information, please go to www.christiegroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAQDLFFDFFXBBB
(END) Dow Jones Newswires
January 18, 2017 02:00 ET (07:00 GMT)
Christie (LSE:CTG)
Historical Stock Chart
From Sep 2024 to Oct 2024
Christie (LSE:CTG)
Historical Stock Chart
From Oct 2023 to Oct 2024