NEW YORK--(BUSINESS WIRE)--Morgan Stanley Global Private Equity today announced it has completed the sale of its majority interest in Learning Care Group (U.S.) Inc. Financial terms of the transaction were not disclosed.
Learning Care Group focuses on the care and education of children between the ages of six weeks and 12 years. The Company’s national platform of more than 900 schools has the capacity to serve more than 100,000 children in 36 states with approximately 17,000 employees. Learning Care Group operates under five distinct brands: La Petite Academy, Childtime, Tutor Time, The Children’s Courtyard, and Montessori Unlimited.
“Morgan Stanley Global Private Equity has been a highly valued partner during the past six years as we expanded our proprietary early childhood education programs and further sharpened our focus on providing outstanding customer service to the families in our care,” said Barbara Beck, Chief Executive Officer, Learning Care Group.
Michael Ryder, Managing Director of Morgan Stanley Global Private Equity, said, “It has been a privilege to work with Barbara and the talented executive team at Learning Care Group. We wish them continued success in the future.”
“We are pleased with the outcome of this investment, which was the result of partnering Morgan Stanley Global Private Equity’s operating-focused investment strategy with world-class executives to build a leading provider of early childhood education,” said Jim Howland, Managing Director and Operating Partner of Morgan Stanley Global Private Equity.
Debevoise & Plimpton LLP served as legal counsel and BofA Merrill Lynch and BMO Capital Markets Corp. acted as financial advisors to Learning Care Group with respect to the transaction.
About Learning Care Group (U.S.) Inc.
Headquartered in Novi, Mich., Learning Care Group provides early education and child care services to children ages 6 weeks to 12 years within its portfolio of brands: The Children’s Courtyard, Childtime Learning Centers, La Petite Academy, Montessori Unlimited and Tutor Time Child Care/Learning Centers. Learning Care Group operates more than 900 schools (corporate and franchise) across 36 states, the District of Columbia and internationally, and has a system-wide capacity to serve more than 100,000 children. Learning Care Group and its subsidiaries are equal opportunity employers and providers. For more information, please visit www.learningcaregroup.com.
About Morgan Stanley Global Private Equity
Morgan Stanley Global Private Equity, part of Morgan Stanley Investment Management, makes private equity and equity-related investments on a global basis. Morgan Stanley Global Private Equity utilizes Morgan Stanley’s vast resources, including the Firm’s global franchise and relationships with leading corporate management teams and financial sponsors, to source attractive opportunities for its investment funds. Morgan Stanley’s roots in private equity investing date back to 1985 with the Morgan Stanley Capital Partners private equity funds. To date, Morgan Stanley Global Private Equity and its affiliated funds have invested over $6.7 billion of equity across a broad spectrum of industries. For more information, please visit www.morganstanley.com/privateequity.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
