Nursery World - Busy Bees founders buy back shares from ABC receivers

The original founders of Busy Bees, the largest nursery group in the UK, have bought back a large share in the business from the receivers of Australian-based parent company ABC Learning Centres for an undisclosed sum.

The sale also sees the private company Knowledge Universe, a Singapore-based global education firm co-founded in 1996 by Michael Milken, as the majority shareholder and financial backer.

Knowledge Universe is the largest for-profit education and training company in the US, with stakes of varying sizes in businesses including KinderCare Learning Centers, a group of 2,000 early childhood centres, and Pat's Schoolhouse, which has dual language Chinese/English childcare centres in Singapore. The company is also involved in primary and secondary education.

ABC, once the largest childcare company in the world, went into receivership and administration last November.

Group managing director John Woodward told Nursery World that the original Busy Bees management team have bought a 'substantial' share in the business.

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