La Salle advise on Nursery Group investment deal
La Salle are pleased to announce the completion of another deal.
La Salle advised Mulberry Bush Nursery Group in a deal which secured investment from Foresight Group to enable growth and support expansion across the North of England.
Deal summary:
La Salle Corporate advised the shareholders of Mulberry Bush on the investment by Foresight Group, which provides a succession solution for the existing owners while enabling the next phase of growth.
Existing shareholders Jo Kinloch, Paul Robinson and Andy Robinson will continue to support the Group, with Jo remaining actively involved as an adviser to the Board. Incoming CEO Cary Rankin, a highly regarded operator within the childcare sector, will lead the team.
Foresight’s investment will support growth through organic development and strategic acquisitions across the North of England. Foresight has committed significant capital and expects to provide additional follow-on funding to support the Group’s acquisitive growth strategy.
The strengthened Board includes newly appointed Chair Joy Chamberlain, alongside incoming CFO Zoe Collins.
La Salle ran a controlled, discreet off-market process to a select buyer pool.
Company background:
Founded in 1990 by the Robinson family, Mulberry Bush Nursery Group is a high-quality nursery operator providing early years education and childcare across Greater Manchester.
The Group operates five nursery settings across North Manchester, providing 460 registered childcare places and employing approximately 200 team members.
Three settings are rated Outstanding by Ofsted and two are rated Good. The Group has won multiple industry awards and built a reputation for excellence in early years education over 36 years.
Matt Dillon, Partner at La Salle commented:
“Delighted to have advised Joanne Kinloch, Andy and Paul on this deal. It was an absolute pleasure to work with the family.
A special thanks also goes to the fantastic team at Hill Dickinson LLP; Ian Gillis, Olivia Jones, and Emily Kingston.
It was great to work with the Foresight for Growing Companies team Sophie Clough, Fiona Hatch, and Rob Jones.”
Mulberry Bush Group:
Jo Kinloch, Adviser to the Board, commented on the deal:
“We were looking for a partner who shared our values and had the expertise to support the next chapter of growth, while preserving the culture and quality that make the business special.
Foresight’s experience in supporting growing regional businesses made them a natural choice, and I look forward to continuing to support the Group as it embarks on this exciting next phase.”
Cary Rankin, CEO, added:
“My priority in these early months is to properly understand what already makes it work so well, from the team and settings to the standard of care that families expect, before shaping what comes next.
With Foresight’s support, we also have a real opportunity to grow, investing in our people and extending that same quality to more communities across the North of England.”
Foresight Group:
Sophie Clough, Senior Investment Manager, added:
“Mulberry Bush is a well-established and highly respected nursery group with an impressive track record of providing high-quality childcare across Greater Manchester.
The business has strong foundations and a clear opportunity to build scale through both organic growth and acquisitions. We are delighted to be partnering with the existing Mulberry Bush team alongside the new senior hires and look forward to supporting its continued expansion, helping increase access to high-quality childcare provision across the North of England.”
Foresight Group background:
Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia. A constituent of the FTSE 250 index, Foresight’s diversified investment strategies aim to combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors.
Advisors:
- Corporate Finance (to Mulberry Bush): La Salle Corporate (Matt Dillon)
- Legal (to Mulberry Bush): Hill Dickinson LLP (Ian Gillis, Olivia Jones, Emily Kingston)
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