US-based multi-asset manager Bain Capital has expanded its childcare centres portfolio in Australia with the acquisition of 20 assets.
91传媒在线 understands Bain acquired the centres, located mostly in Sydney and Melbourne, from private operator Little Learning School for around AUD100m (鈧�65m).
The vendor has retained 10 childcare centres and a pipeline of 20 more centres.
Following the transaction, Bain will own 65 so-called childcare campuses in Australia, mainly in Sydney and Melbourne.
A source told 91传媒在线 that the total enterprise value, including 鈥減rogressive earned out鈥�, Bain Capital鈥檚 three investments is estimated at AUD800m.
Bain entered this sector of the Australia market in 2016, taking a majority stake in a company known as Only About Little Children (OAC), which operated more than 40 childcare campuses.
The acquisition was in line with Bain鈥檚 global plan to grow its exposure to early child care, a strategy developed after Bain acquired Bright Horizons, a major US childcare provider, for US$1.3bn (鈧�1.1bn) in 2008.
Bain followed up its purchase of OAC with a stake in Camp Australia and has flagged its plan for national rollout of childcare campuses around Australia.
