Since nursery closures and the lockdown were announced in mid-March, new deal activity in the childcare space has been understandably quiet, with most (but not all) live processes going on hold or being called off, and very little in the way of new deals coming to market. Some of the transactions which were announced in the media in April (such as Futurepath) actually completed before the budget announcement on 11 March.
What do we expect from here?
In many ways, the doomsday scenario of mass distress has been averted by a combination of the furlough scheme, continued funding, general re-opening from 1 June and sensible operating guidelines (thanks in no small part to the influence of the Site Operating Procedures drafted by UK Childcare COVID response group) - this combination puts the UK in a better position for survival and recovery than many other countries including the USA.
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