Bain Capital Private Equity has reached a deal to acquire Camp Australia, a provider of before-and after-hours care in schools throughout Australia, the Boston-headquartered private equity firm said in a statement on Tuesday.
Financial details of the acquisition were not disclosed, but Bain Capital said the deal will be completed in early 2017.
Citigroup acted as advisor for the transaction.
Prior to this acquisition, the PE investor with over $75 billion AUM has already reinforced its education portfolio in the Asia-Pacific region by taking a majority stake in early childhood and development group Only About Children.
The firm has also set up a Sydney office, in addition to an office in Melbourne maintained by Bain Capital Credit since 2013, as it recognised “the importance of the market to its global portfolio.”
“We believe our long term international experience in the education sector, coupled with our investment in Only About Children, adds a great deal of potential to our new partnership with Camp Australia,” said Bain Capital principal Mike Murphy.
Praising Australia as a “very attractive market” for education, Ed Han, managing director at the global PE firm, said the country boasted an excellent opportunity to grow operations further.
Bain Capital will invest in management, staff and services, to help its portfolio companies better serve Australian families who want access to quality childcare.
Its expertise in education also includes early education and development through its 30 years of involvement with Bright Horizons, a top-tier early childhood provider in the US; and after school operations in Rise Education, a provider of English language courses for children in China.
“Bain Capital is an ideal partner to help us move to the next stage of development given its international expertise, fresh thinking and commitment to support our business,” commented Camp Australia’s CEO Adam Pease.
Founded in 1987 with after school sports coaching service, Camp Australia is partnering with over 700 schools in Australia to bring its practices throughout all mainland states of the country.