Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Primrose Holdings Inc.
Sale to Roark Capital Group
Baird served as the exclusive financial advisor to Primrose and American Capital Strategies on this transaction.
Primrose Holdings Inc. ("Primrose"), the nation's leader in early childhood education and a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS) ("ACAS"), announced today the successful completion of its sale to Roark Capital Group (“Roark”). Terms of the transaction were not disclosed.
Founded in 1982, Primrose is based in Acworth, GA and currently operates more than 180 schools in 15 states. Primrose provides quality, early education and child care services with a balance of learning, character development and play. Developed by and taught exclusively at Primrose, the school’s Balanced Learning® curriculum dynamically blends child-initiated play and teacher-guided instruction. Primrose was the first educational preschool in the U.S. to achieve accreditation status from the Commission on International and Trans-Regional Accreditation (CITA).
ACAS is the largest U.S. publicly traded alternative asset manager, with $19 billion in capital resources under management. ACAS is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies, and provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. ACAS and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €500 million and in Europe.
Roark Capital Group is an Atlanta-based private equity firm that specializes in business and consumer service companies with attractive growth prospects and revenues ranging from $20 million to $1.0 billion. Specific areas of focus include franchise, direct marketing, and financial services. The firm has more than $1.5 billion of equity capital under management.