Toronto, July 19, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has agreed to acquire KidsFoundation Holdings B.V. (“KidsFoundation”) in partnership with the existing management team. KidsFoundation is the largest childcare provider in the Netherlands. The transaction is expected to close later this year, subject to customary conditions and regulatory approvals. The terms of the transaction are not being disclosed.
KidsFoundation is one of the highest-rated childcare providers in the country. It offers nursery care for children between six weeks and four years old as well as before and after school care services for children between four and 12 years old. The company provides childcare for more than 30,000 children across 281 centres with approximately 3,750 employees.
“KidsFoundation is committed to a high standard of care and quality for the families it serves, and that is a commitment we want to continue and build on,” said Nigel Wright, a Managing Director with Onex. “We are pleased to be partnering with the KidsFoundation management team and look forward to supporting their growth for years to come.”
“Onex’ strong investment track record and history of supporting the teams it invests alongside makes it an ideal partner for us,” said Jeanine Lemmens, Chief Executive Officer of KidsFoundation. “Our first priority is to provide high-quality care of our children in safe facilities with the best staff. Onex is aligned with the strategic direction of our firm and we are excited to work together in our next phase of growth.”
The investment will be made by Onex Partners, Onex’ private equity platform focused on larger investment opportunities.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $32 billion of assets under management, including $6.7 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $49 billion, generate annual revenues of $31 billion and employ approximately 207,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
For further information:
Director, Investor Relations