TIDMOCI
RNS Number : 2959A
Oakley Capital Investments Limited
01 June 2021
01 June 2021
Oakley Capital Investments Limited
Oakley Capital Investments Limited(1) ("OCI") is pleased to
announce that Oakley Capital IV(2) ("Fund IV") has agreed to invest
in ICP Education Holding Limited ("ICP Education" or the "Group"),
a leading independent group of UK children's nurseries.
OCI's indirect contribution via Fund IV will be GBP27
million.
Note that the above figure only relates to OCI's share of Fund
IV's overall investment in ICP Education.
OCI's liquid resources available for future deployment
(including this transaction) are estimated to be GBP180
million.
Further details on the transaction can be found in the
announcement below from Oakley Capital (3) .
Investment in ICP Education, a leading group of nurseries
throughout the UK
Oakley Capital is pleased to announce that Oakley Capital IV
("Fund IV") has agreed to invest in ICP Education Holding Limited
("ICP Education" or the "Group"), a leading independent group of UK
nurseries. Fund IV will invest alongside the management team, which
is led by Executive Chairman Stephen Booty, CEO Dominic Harrison,
and CFO Clare Wilson.
ICP Education is one of the largest nursery operators in the UK,
serving nearly 6,000 children at 44 nurseries across England,
predominantly in London and the South East. The Group is one of the
highest quality large nursery operators in England, with a third of
nurseries rated Ofsted Outstanding and 98% rated Outstanding or
Good. In addition, last year ICP was ranked as the 14(th) Best
Place to Work in the UK by Glassdoor, across all categories.
ICP Education has achieved a strong track record of growth since
its foundation. Enrolments were negatively impacted through UK
COVID-19 lockdowns, however the business has quickly recovered to
pre-COVID occupancy levels in recent months.
The UK nursery sector is a GBP6.7 billion market serving an
estimated 850,000 children across 15,000 nurseries, most of which
continue to be owned and operated on a single-site basis. The
market has grown steadily at 4.5% CAGR between 2010-2019 driven by
rising female labour market participation and an increasing
awareness of the importance of early years education.
Oakley is one of the most active investors in the European
education sector. To date, platform investments in the sector have
included Inspired Education, a leading global schools group;
Schülerhilfe, Europe's largest tutoring group; IU Group (formerly
Career Partner Group), the largest and fastest growing university
in Germany; ACE Education, a leading French university group; and
Ocean Technologies Group, the leading provider of e-learning to the
maritime industry.
Peter Dubens, Managing Partner of Oakley Capital, commented:
" Our experience investing in high-quality businesses within the
Education sector has led us to identify the nursery sector as an
attractive area which is enjoying sustained growth. We look forward
to partnering with Stephen, Dominic and Clare, as they continue to
grow one of the leading premium nursery groups in Europe."
Stephen Booty, Executive Chair of ICP Education, commented:
"We are very much looking forward to our partnership with
Oakley, given their depth of experience as investors in Education.
The team has a real appreciation of how important it is to be
focused on providing the highest standards of quality care and
early years education, and we are looking forward to working with
them to realise our growth ambitions in the UK and
internationally."
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget, Investor Relations
Greenbrook Communications Limited
+44 20 7952 2000
Alex Jones / Michael Russell / Catriona Crellin
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Owen Matthews
Notes:
This announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds (2) .
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV and Oakley Capital Origin Fund are unlisted
lower-mid to mid-market private equity funds that aim to provide
investors with significant long-term capital appreciation. The
investment strategy of the Funds is to focus on buy-out
opportunities in industries with the potential for growth,
consolidation and performance improvement.
(3) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or
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