- KinderCare priced its initial public offering of 24,000,000 shares of common stock at USD 24.00 per share
- The shares are listed on the New York Stock Exchange under the symbol KLC
- KinderCare is the largest private provider of high-quality early childhood education in the US by center capacity with the ability to serve over 200,000 children across its more than 2,400 centers and sites
Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, announces that shares in its portfolio company KinderCare Learning Companies ("KinderCare" or "the Company"), a leading early childhood education services provider in the US, began trading on the New York Stock Exchange on 9 October 2024, following the pricing of its initial public offering ("IPO"). KinderCare's stock is listed under the ticker "KLC".
The IPO of 24,000,000 shares of KinderCare’s common stock priced at USD 24.00 per share on 8 October 2024. Following the IPO, funds affiliated with or advised by affiliates of Partners Group hold approximately 71% of KinderCare's common stock. KinderCare is a parent holding company with operations conducted through its wholly owned subsidiaries for its portfolio of brands: KinderCare Learning Centers, Crème Schools, and Champions.
Founded in 1969, KinderCare is the largest provider of high-quality early childhood education in the US by center capacity, with the ability to serve over 200,000 children across 2,400 centers and sites and employing more than 43,000 teachers and staff. KinderCare offers differentiated flexible childcare solutions to meet today’s dynamic work environment across its family of brands. KinderCare Learning Centers provide community-based centers that offer early childhood education and care for children from six weeks to 12 years old. Crème Schools provides a premium early education model using a variety of themed classrooms for children from six weeks to 12 years old. Champions offers before- and after-school programs for school-age children. KinderCare also partners with employers nationwide to address the childcare needs of today’s dynamic workforce – through customized family care benefits for organizations, including care for young children on or near the site where their parents work, tuition benefits, and backup care where KinderCare programs are located. The focus of KinderCare's management on creating an inclusive work culture has led to high levels of employee engagement, resulting in the Company winning the Gallup Exceptional Workplace Award consecutively for the last eight years – one of only two current organizations worldwide to achieve this milestone for eight consecutive years.
Partners Group acquired KinderCare in 2015, supporting KinderCare’s business transformation to optimize center footprint, drive compound same-center revenue growth, and increase same-center occupancy. KinderCare has also invested in its curriculum, human capital, and technology infrastructure to accelerate growth and strengthen its commitment to quality.
Tom Wyatt, Lead Operating Director and Chairman of the Board, KinderCare, says: "KinderCare's competitive advantage lies in its community-based footprint of centers, which provides the largest center capacity for early childhood education in the US, and its strategic portfolio of brands offering services in local communities, onsite at employers, and in schools."
Joel Schwartz, Partner, Private Equity Services, Partners Group, adds: "KinderCare is a leading early childhood education provider with an unwavering focus on delivering the highest quality service. The growing awareness of the critical nature of early childhood education in the US should help underpin demand in the years ahead."
Paul Thompson, Chief Executive Officer, KinderCare, comments: "For more than 50 years, KinderCare has supported hardworking families across the United States. Today, we are the nation's leading provider of early childhood education and are well positioned for growth across our entire portfolio as we continue to invest in technology, facilities, and our curriculum."
Partners Group's Private Equity business has USD 76 billion in assets under management.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
