Electra sells Treetops Nurseries for £93m
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17:30 15/01/24
Electra Private Equity said it had agreed to sell child nursery operator Treetops to Busy Bees for £93m.
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The sale represented an uplift of £44m, or 91%, and equivalent to an increase in its net asset value of 107 pence per share on the valuation of the investment at 30 September 2016, Electra said.
This equated to a return of 6.5 times cost and an investment rate of return of 59%. Electra said it was the seventh exit delivering a money multiple of more than 3 time achieved in the last year.
The transaction is anticipated to close in April.
Headquartered in Derby, Treetops provides childcare to more than 6,000 children and employs 1,300 people. The company operates 61 schools, predominantly in the North of England, the Midlands and the South East.