Notable acquirers have been The Old Station Nursery (which bought Sunhill Daycare), Family First (which acquired Head Start), ICP Nurseries’ acquisition of/ merger with Cresswell, and continued expansions by Welcome Nurseries and MiChild.
Some of the acquisitions have been purchases of fundamentally solid businesses, some of these were seeded before the first lockdown, and there hasn’t yet been a deluge of ‘distress’ acquisitions, which were initially anticipated – mostly on account of the furlough scheme which has saved jobs for now.
Despite the third lockdown recently coming into place, we expect transaction activity to continue in the short term, as a number of owner-operators try to get deals done before the anticipated changes in Capital Gains Tax at the beginning of March.
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