Exclusive: Welcome Nurseries Group announces management buyout
Welcome Nurseries, the UK’s 4th largest nursery group has announced a management buyout (MBO) today
Welcome Nurseries will continue to be run by the current management team.
Original founder and investor Jonathan Jay has now exited the business.
Co-founder Linda Cuddy will stay in her role as director of childcare and education, and assume the principle leadership role. Pressures of the pandemic had put a strain on the nursery group’s financials over the past year.
New investment will continue to further drive the nursery chain’s expansion.
Commenting on the deal, founder Jonathan Jay stated:
“We’ve built Welcome quickly and successfully by focusing on finding great nurseries and hiring amazing people to run them.
“I’m very excited to see what the new investor will do to continue our rapid expansion, adding more nurseries into the Welcome family.”
A source familiar with the deal said that it’s likely that the business will be restructured to exit onerous leases and any underperforming sites.
Grant Thornton provided vendor assistance services.
It was founded by Jonathan Jay and Linda Cuddy in 2019, and now has 48 settings with more than 5,000 childcare places.