Just Learning was bought last week by private equity firm Alchemy. The new owner, which sought unsuccessfully to buy the car manufacturer Rover last year, says it is committed to expanding the chain of 21 nurseries to at least 40 over the next five years and will provide an initial 7.5m for new nurseries.
Alchemy has taken over foun-der Duncan Bannatyne's original controlling stake in the business, and five per cent of the shares in the company will be owned by the group's managerial staff.
Just Learning co-founder Michael Fallon, who remains managing director of the company, said, 'It's a great deal. We are now free to expand after Duncan's exit, and we plan to be one of the top three operators in four or five years' time.
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