Private equity firm buys Bright Horizons Family Solutions
Wednesday, January 23, 2008
Nursery chain Bright Horizons Family Solutions has been bought by private equity firm Bain Capital for $1.3 billion, subject to shareholder approval.
The board of directors of Bright Horizons has approved the mergeragreement and is recommending that Bright Horizons' shareholders adoptit. Chief executive officer David Lissy said last week, 'We are excitedto team up with Bain Capital, who enthusiastically supports our missionto provide high-quality care, education and work/life solutions to thechildren, families and clients we serve.' He added that the deal would'allow us to pursue the opportunities we have to grow and enhance thequality of the education and services we provide'. Bright Horizonsmanages more than 600 nurseries and family centres in the United States,the UK, Ireland and Canada.
