Family First acquires 11-site day nursery group
Family First has bought Cherry Childcare Day Nursery & Pre-school Group, a family-run, independent day nursery group with 11 settings across Surrey, Hampshire, Berkshire, and Buckinghamshire.
Established in 1993, Cherry Childcare is renowned for delivering outstanding premium childcare, and boasts an impressive annual fee income with profits to match.
Previously owned by Nigel Rolfe, the portfolio has now been purchased by Family First Nurseries, taking the group close to 100 settings.
Nigel Rolfe, Managing Director at Cherry Childcare, commented, “After 14 years at Cherry Childcare, I made the decision to retire from operating nurseries and focus on other activities. Having decided to step down, the biggest challenge was who should take over. From initial discussions with Family First, it was clear there is a common understanding.
'I felt comfortable that Family First is an organisation I would want to work with. Cherry Childcare is a significant acquisition for any acquirer but will benefit from the broader resources Family First has to offer. I would like to thank all the staff for their dedication and commitment to childcare and in helping make Cherry Childcare what it is today.”
Craig Grant, Corporate Development and Strategy Officer at Family First Nurseries, said, “Cherry Childcare is a fantastic addition to our group, and we are delighted to have all the staff children and parents on board. We believe we are the right people to help Cherry Childcare maintain its position in the market as a premium group but also to enable people within the team to grow as a part of a larger organisation.
'We would like to thank Nigel for allowing us to take over what has been his circa 14 years in the industry and helping us through this process. This strong hub of settings provides an ideal springboard for further growth in and around this area.”
The sale was handled by Nick Brown and Sophie Willcox at Christie & Co and commented, “We were very excited about being part of this high-profile transaction, helping to add value and bring the deal to a successful conclusion.
'This group is a great addition to Family First’s nursery portfolio and I’m sure that Cherry Childcare can only add to the quality of their existing group and help them continue to grow in and around this location.
'2022 has been a phenomenal year for the team at Christie & Co, where, time and time again, we have been able to drive transactions for sellers and set the market re prices achieved.”
Established in 1993, Cherry Childcare is renowned for delivering outstanding premium childcare, and boasts an impressive annual fee income with profits to match.
Previously owned by Nigel Rolfe, the portfolio has now been purchased by Family First Nurseries, taking the group close to 100 settings.
Nigel Rolfe, Managing Director at Cherry Childcare, commented, “After 14 years at Cherry Childcare, I made the decision to retire from operating nurseries and focus on other activities. Having decided to step down, the biggest challenge was who should take over. From initial discussions with Family First, it was clear there is a common understanding.
'I felt comfortable that Family First is an organisation I would want to work with. Cherry Childcare is a significant acquisition for any acquirer but will benefit from the broader resources Family First has to offer. I would like to thank all the staff for their dedication and commitment to childcare and in helping make Cherry Childcare what it is today.”
Craig Grant, Corporate Development and Strategy Officer at Family First Nurseries, said, “Cherry Childcare is a fantastic addition to our group, and we are delighted to have all the staff children and parents on board. We believe we are the right people to help Cherry Childcare maintain its position in the market as a premium group but also to enable people within the team to grow as a part of a larger organisation.
'We would like to thank Nigel for allowing us to take over what has been his circa 14 years in the industry and helping us through this process. This strong hub of settings provides an ideal springboard for further growth in and around this area.”
The sale was handled by Nick Brown and Sophie Willcox at Christie & Co and commented, “We were very excited about being part of this high-profile transaction, helping to add value and bring the deal to a successful conclusion.
'This group is a great addition to Family First’s nursery portfolio and I’m sure that Cherry Childcare can only add to the quality of their existing group and help them continue to grow in and around this location.
'2022 has been a phenomenal year for the team at Christie & Co, where, time and time again, we have been able to drive transactions for sellers and set the market re prices achieved.”
13/Dec/2022 11:24