Morgan Stanley Global Private Equity has completed the sale of its majority interest in Learning Care Group (US).
Financial terms of the transaction have not been disclosed.
Learning Care Group focuses on the care and education of children between the ages of six weeks and 12 years. The company’s national platform of more than 900 schools has the capacity to serve more than 100,000 children in 36 states with approximately 17,000 employees.
Learning Care Group operates under five distinct brands: La Petite Academy, Childtime, Tutor Time, The Children’s Courtyard, and Montessori Unlimited.
“Morgan Stanley Global Private Equity has been a highly valued partner during the past six years as we expanded our proprietary early childhood education programmes and further sharpened our focus on providing outstanding customer service to the families in our care,” says Barbara Beck, chief executive officer, Learning Care Group.
Michael Ryder, managing director of Morgan Stanley Global Private Equity, says: “It has been a privilege to work with Barbara and the talented executive team at Learning Care Group. We wish them continued success in the future.”
Debevoise & Plimpton served as legal counsel and BofA Merrill Lynch and BMO Capital Markets Corp. acted as financial advisors to Learning Care Group with respect to the transaction.
