Morgan Stanley Private Equity in talks to sell Learning Care to American Securities
12 Apr 2014
Morgan Stanley Private Equity is in advanced talks to sell Learning Care Group Inc to buyout firm American Securities, Reuters yesterday reported, citing people familiar with the matter.
Reuters could not find out the sale price, but said that a deal is likely to be announced later this month.
Morgan Stanley Private Equity had in 2008 acquired a 60-per cent stake in Learning Care in a deal valuing the US subsidiary of ABCLearning Centres Ltd at $700 million. (See: Morgan Stanley acquires majority stake in Learning Care Group)
Headquartered in Michigan, Learning Care is the second-largest for-profit child care provider in North America.
It provides early education and care services to children between the ages of six weeks and 12 years under its umbrella of brands: The Children's Courtyard, Childtime Learning Centers, La Petite Academy, Montessori Unlimited and Tutor Time Child Care / Learning Centers.
Between these five brands, Learning Care Group has approximately 900 corporate and franchise schools across the country and around the world with a system-wide capacity to serve close to 100,000 children.
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