America’s largest ECEC provider announces plans to list on New York Stock Exchange

KinderCare, America’s largest early childhood education and care (ECEC) provider by licence places has confirmed plans to list on the New York Stock Exchange in a transaction that is expected to value the company at nearly US$3 billion. 

Having initially signalled an intention to list in October 2021, the Portland, Oregon based business has progressed its application and intends to proceed with the sale of 25,775,434 shares, around 18 per cent of the company, at a price somewhere between US$18.00 and US$21.00.  

The news marks a return to the capital markets after it was taken private by financier Michael Milken in January 2005 for US$550 million. Mr Milken sold the business to global private equity house Partners Group AG in 2015. 

Partners Group are also the owners of Australian ECEC provider Guardian Early Learning. 

KinderCare operates a network of around 2,000 services in 40 states and the District of Columbia across long day care, corporate care and outside school hours care settings. 

The company recorded net income of US$46.4 million on revenue of US$1.33 billion during the nine months ended Oct. 3 2021, after a loss of $1.4 million on revenue of $985.1 million in the same period in 2020. 

To learn more about KinderCare please click here.