Search This Blog

Monday, September 30, 2024

Childcare provider KinderCare sets terms for $600 million IPO

 KinderCare Learning Companies, the largest private provider of early childhood education and care services in the US, announced terms for its IPO on Monday.


The Lake Oswego, OR-based company plans to raise $600 million by offering 24 million shares at a price range of $23 to $27. At the midpoint of the proposed range, KinderCare Learning Companies would command a fully diluted market value of $3.3 billion.

KinderCare is the largest private provider of early childhood education and care services in the US by center capacity. The company serves children ranging from 6 weeks to 12 years of age across its market leading footprint of 1,500 early childhood education centers with capacity of more than 200,000 children and contracts for more than 900 before- and after-school sites located in 40 states and the District of Columbia as of June 29, 2024. KinderCare operates all of its centers under the KinderCare brand and utilizes a consistent curriculum and operational approach.

KinderCare Learning Companies was founded in 1969 and booked $2.6 billion in sales for the 12 months ended June 30, 2024. It plans to list on the NYSE under the symbol KLC. Goldman Sachs, Morgan Stanley, Barclays, J.P. Morgan, UBS Investment Bank, Baird, BMO Capital Markets, Deutsche Bank, and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of October 7, 2024.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.