Partners Group-backed KinderCare seeks up to $3.1 bln valuation in long-sought US IPO
Adds background and details on company and IPO in paragraphs 4-12
Sept 30 (Reuters) -KinderCare Learning Companies, a provider of early childhood education, set a target of up to $3.09 billion valuation on Monday for its long-sought U.S. initial public offering.
The 55-year-oldcompany, backed by Swiss private equity firm Partners Group PGHN.S, is moving towards a listing after previously pursuing it in 2021.
KinderCare is aiming to raise up to $648 million by offering 24 million shares at a price range of $23 and $27 each.
The company, whose brands include KCLC, Crème School, and Champions, serves children ranging from six weeks to 12 years of age.
The IPO would be among the first major moves under CEO Paul Thompson, who took over the mantle in June after Tom Wyatt's 12-year stint.
In 2015, Partners Group acquired KinderCare and will remain the controlling shareholder with a 71.1% stake after the IPO.
Lake Oswego, Oregon-based KinderCare was initially slated to go public in late 2021, when it sought to raise up to $541.3 million at a $2.96 billion valuation.
But the listing was postponed with KinderCare citing "regulatory delays." Last year, the company abandoned its IPO plans.
KinderCare, whose rivals include Bright Horizons BFAM.N, Kiddie Academy, and Primrose Schools, opened the first facility in 1969. Since then, it has grown to over 2,000 locations in the United States.
In 2022, KinderCare acquired premium child-care and early learning provider Crème School.
The IPO proceeds will be mainly used to cut debt, the company said in a regulatory filing.
The offering is being underwritten by more than 10 Wall Street banks, led by Goldman Sachs, Morgan Stanley, Barclays, and J.P. Morgan.
KinderCare will list on the New York Stock Exchange under the symbol "KLC."
Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
