Allens is acting for leading global investment firm Bain Capital LLC (Bain Capital) on the AU$450 million sale of early childhood education and care provider Only About Children (OAC).
Based outside Sydney, OAC operates approximately 75 campuses located in the Australian states of New South Wales, Victoria and Queensland, with roughly two-thirds located within the greater Sydney area.
'We congratulate our long-standing client Bain Capital on the sale of OAC,' said Lead Partner Noah Obradovic.
'OAC has a well-established reputation for excellent child care services and is a market leader in early childhood development. The transaction demonstrates that strategic buyers have shifted their priorities from COVID and cash-management and are now positioning their businesses for expansion and future earnings growth through M&A.'
The deal is subject to limited conditions and is expected to complete in the coming months.
Allens legal team
Noah Obradovic (lead Partner), Tom Story (Partner), Joy Yoon (Senior Associate), Georgie Leahy (Associate), Patrick Daaboul (Lawyer)