TORONTO, Oct. 31, 2013 /CNW/ - Ontario Teachers' Pension Plan
(Teachers') today announced the acquisition of Busy Bees Nursery Group
(Busy Bees), the largest childcare provider in the United Kingdom.
Terms of the transaction are not being disclosed and Busy Bees'
management maintains a significant minority stake in the company.
Teachers' acquisition of Busy Bees from Knowledge Universe was made
through its private equity investment division, Teachers' Private
Busy Bees was founded in 1983 and currently operates 213 nurseries. Its
7,000 staff members provide quality care for 20,000 children.
"Teachers' is pleased to partner with the UK's market leader in the
childcare sector. Busy Bees is an outstanding business with good growth
potential," said Jo Taylor, TPC Vice-President and head of Teachers'
London office. "Busy Bees' proven management team has a record of
quality and integrity. We look forward to supporting their efforts to
make its childcare services more widely available through developing
new locations and acquiring other facilities."
"Busy Bees and Teachers' share many values, including a commitment to
providing excellent service for children and families," said Marg
Randles, co-founder and Managing Director of Busy Bees. "While we work
together to explore exciting opportunities, our dedicated staff remains
focused on delivering exceptional childcare every day at every
TPC activities include leading deals on a sole or partnered basis,
investing in private equity funds in markets and sectors that it cannot
efficiently access directly and co-investing with other like-minded
private equity funds. TPC manages a global portfolio valued at
approximately $12 billion.
With $129.5 billion in net assets as of December 31, 2012, the Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's
assets and administers the pensions of 303,000 active and retired
teachers in Ontario. For more information, including our 2012 and
previous annual reports, visit www.otpp.com. Follow us @OtppInfo
SOURCE: Ontario Teachers' Pension Plan
For further information:
Ontario Teachers' Pension Plan