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SYDNEY, December 12, 2016 – Bain Capital Private Equity today announced that it had reached an agreement to acquire Camp Australia, which provides before-and after-hours care in schools throughout Australia. Financial terms of the private transaction were not disclosed.
The acquisition comes shortly after the acquisition of a majority stake in early childhood and development group Only About Children (Oac) and is an exciting addition to Bain Capital’s education portfolio in the Asia-Pacific region.
The chief executive officer of Camp Australia, Adam Pease, said: “We have built this business up over a number of decades so that it offers services throughout all mainland states of Australia. Bain Capital is an ideal partner to help us move to the next stage of development given its international expertise, fresh thinking and commitment to support our business.”
"Camp Australia is operating in a very attractive market and we are thrilled to partner with them for future growth,” said Ed Han, a managing director of Bain Capital.
“Through our due diligence we came to the belief that there is an excellent opportunity to grow operations further and we plan to invest in management, staff and services, guided by our belief that all Australian families want access to quality childcare.”
Bain Capital principal Mike Murphy added: “We believe our long term international experience in the education sector, coupled with our investment in Only About Children, adds a great deal of potential to our new partnership with Camp Australia.”
Camp Australia was established in 1987 when it commenced after-schools sport coaching. It partners with more than 700 schools around the country.
In addition to Only About Children, Bain Capital has powerful insight into early education and development through its 30 years of involvement with Bright Horizons – a large top-tier early childhood provider in the United States that the firm has worked with since its inception, and more recently with Rise Education, a leading provider of after school English language programs for children in China.
Bain Capital and Camp Australia will work with regulators and other stakeholders to ensure that the group continues to play a valuable role in the community and delivers the best possible services to children in its care.
The acquisition is expected to close in early 2017.
Bain Capital Private Equity recently opened a Sydney office, supported by a number of senior executives, in recognition of the importance of the market to its global portfolio. Bain Capital Credit has maintained an office in Melbourne since 2013.
The firm was advised by Citigroup for the transaction.
About Camp Australia
For more than 28 years Camp Australia has delivered high quality and affordable After School Care that nurtures and supports children's development. Providing time for homework, time to relax, educational activities and a healthy snack.
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. For more information visit www.baincapitalprivateequity.com.