EXPANSION is on the agenda for a group of children’s nurseries after it acquired three new businesses in Cambridgeshire.
The one-off deal takes the portfolio of Kettering-based Kindred Education to 21 after it completed the purchase of nurseries in Huntingdon, St Ives and Girton.
The deal was supported by a £7.5 million funding package from bank Santander, which will also support Kindred education’s future acquisition strategy. Kindred already has nurseries in London, Essex, Bournemouth and Salisbury.
It is planning major expansion over the next five years. It is looking to acquire 30 new nurseries and expand its staff from 450 to 750.
Chief executive Ruth Pimentel said: “Santander UK quickly proved invaluable when it came to supporting our growth plans, with its strong expertise in the nursery sector and knowledge of the challenges we would face with acquisitions.
“The bank’s help and guidance are beginning to open many opportunities for us, and we are excited to be growing into a sizable nursery group with Santander UK right beside us.”
Kindred was founded in 2015 and currently runs a total 18 nurseries.
Andy Casey, relationship director at Santander UK, said: “We are delighted to be working with the team at Kindred Education, who have built an excellent brand and reputation in the nurseries sector. We look forward to supporting the business to achieve its aspiration to grow rapidly over the next few years.”