Private Equity News & Analysis

Gresham closes fifth deal in six weeks

Gresham Private Equity has sold a childcare company for £71 million in its fifth deal in six weeks.

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Gresham Private Equity, a UK mid-market private equity firm, will sell Busy Bees, a UK day nursery manager, to Australian company ABC Learning Centres for £71 million (€105.6 million; $140 million).  Gresham will generate a return of 3.6 times it investment.  The deal is Gresham’s fifth sale in the last six weeks.

The firm led a £50 million funding package for Busy Bees in February 2000, alongside the Royal Bank of Scotland, a UK bank.

BDO Stoy Hayward and DLA Piper, a private equity-focused law firm advised Gresham.

Busy Bees operates two businesses, Busy Bees Nurseries and Busy Bees Chidldcare Vouchers. 

Gresham’s recent sales are Blue Group, a healthcare recruitment company, for £12 million; Individual Restaurant Company, a chain of 16 restaurants, for £41 million; Whitworths, a health food supplier, for £86 million, and Target Express, a UK delivery company, for an undisclosed amount.

Gresham’s sector focus is business and support services, consumer, financial services, healthcare and pharmaceuticals and industrial products.