KinderCare's market valuation reaches $3.1 billion after strong NYSE debut.

From Investing.com: 2024-10-09 16:02:06

KinderCare Learning Companies, backed by Partners Group, saw its market valuation reach $3.1 billion as shares opened 12.5% above the IPO price on the NYSE, raising $576 million. Demand for childcare services is on the rise post-pandemic, with a focus on accelerated growth opportunities and new center openings.

Founded in 1969, KinderCare offers daycare facilities and early childhood education, serving over 200,000 children and generating $1.25 billion in revenue in the first half of 2024. The company postponed its IPO in late 2021 but successfully debuted on the NYSE, with Swiss private equity firm Partners Group owning a 71.1% stake.

Listed peer Bright Horizons Family Solutions holds a market cap of $7.9 billion, while the IPO was underwritten by over 10 Wall Street banks including Goldman Sachs and JPMorgan. KinderCare’s CEO, Paul Thompson, emphasized expansion plans through Greenfield investments and tuck-in acquisitions to drive growth and market presence.



Read more at Investing.com: KinderCare valued at about $3.1 billion as shares jump in strong NYSE debut By Reuters