Christie & Co advises on successful sale

RNS Number : 9030F

Christie Group PLC

02 August 2016

 

2 August 2016

Christie Group plc
("Christie Group" or the "Company")

Christie & Co advises on successful sale of Children's Day Nursery portfolio

Christie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has completed the sale of Positive Steps Children's Day Nurseries Ltd to Busy Bees Childcare, one of the UK's leading childcare operators, in a deal believed to be the largest transaction in the sector this year.

Christie & Co's Childcare & Education team were engaged to sell the established group of eight impressive childcare settings and one development site with planning consent for day nursery use, in a highly-confidential process to a target list of well-financed buyers over an initial six week period. The portfolio is one of the most highly-acclaimed in the South East and operates with a total effective operating capacity for 619 children. All of the nurseries are located in prime sought after trading locations around London and the surrounding counties.

As anticipated, this opportunity drew substantial levels of interest from a wide range of prospective buyers including national and regional operators, private equity investors, overseas providers and a number of high net worth individuals.

Nick Brown, an Associate Director in Christie & Co's Corporate Childcare team said, "We were delighted to be engaged by the owner Paul Clarke in respect of this exciting opportunity. Alongside maximising value and achieving the best possible price, and transaction terms, it was of paramount importance to our client that the new owner would share and continue with the Positive Steps ethos of providing high quality childcare in a nurturing environment to all children, families and employees and we are pleased to have met this objective.

"It is extremely rare for a privately owned group of this size and calibre to come to market. The knowledge and experience which Christie & Co as a company were able to provide and our intimate knowledge of buyer behaviour enabled us to achieve a sale which was a perfect fit for all parties concerned."

Enquiries:

Christie Group plc

David Rugg	020 7227 0707
Chief Executive
Dan Prickett	020 7227 0700
Chief Financial Officer

Richard Lunn
Managing Director Care, Christie & Co                                                                                    020 7227 0716  

Panmure Gordon (UK) Limited:

Dominic Morley / Charles Leigh-Pemberton                                                                        020 7886 2906

Nominated Adviser & Broker

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 46 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie + Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

For more information, please go to www.christiegroup.com.

 

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