PSP Investments acquires significant minority in Learning Care Group

The Public Sector Pension Investment Board (PSP Investments) has made a significant equity investment in Learning Care Group (US) Inc.

American Securities LLC, which acquired Learning Care Group in May 2014 in partnership with the company’s management team, will remain as controlling shareholder.

Novi, Michigan based Learning Care Group focuses on the care and education of children between the ages of six weeks and 12 years. The company’s national platform of more than 900 schools has the capacity to serve more than 130,000 children in 36 states, the District of Colombia, and internationally. Learning Care Group operates under seven distinct brands: The Children’s Courtyard, Childtime Learning Centers, Creative Kids Learning Centers, Everbrook Academy, La Petite Academy, Montessori Unlimited, and Tutor Time Child Care/Learning Centers.

“Our investment in Learning Care Group is a great example of our strategy to back market-leading businesses with strong long-term fundamentals and world-class management teams,” said Simon Marc, Managing Director, Head of Private Equity, PSP Investments. “With its high-quality services, Learning Care Group is uniquely positioned to further capture growth in the early childhood education market. We are excited to partner with American Securities—with its impressive industry knowledge and a history built on true partnerships—to support Learning Care Group’s management team, which has positioned the company for the next phase of growth.”

“We are pleased to be supported by PSP Investments to continue Learning Care Group’s growth trajectory,” said Kevin Penn, a Managing Director of American Securities. “We look forward to working with them at the board level to further develop the company’s market leadership.”

“We are excited to partner with PSP Investments and believe their international expertise will be invaluable as we further build our business outside of the United States,” said Barbara Beck, Chief Executive Officer, Learning Care Group. “At the same time, this new investment and American Securities’ continued support will enhance our ability to accelerate Learning Care Group’s multiple levers for growth in the United States.”

Arnold & Porter Kaye Scholer LLP acted as legal advisor, and Morgan Stanley and BMO acted as financial advisors to Learning Care Group. PSP Investments’ advisors were Barclays (financial) and Sidley Austin LLP (legal).

photo credit: Learning Care Group


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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