Secondary Buyout • Education

Apiary Capital and Banco Santander Acquire Thrive Childcare and Education

On February 18, 2019, private equity firm Apiary Capital and Banco Santander acquired education company Thrive Childcare and Education from Rockpool Investments

Acquisition Context
  • This is Apiary Capital’s 1st and Banco Santander’s 1st transaction in the Education sector.
  • This is Apiary Capital’s 2nd and Banco Santander’s 3rd transaction in the United Kingdom.

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M&A Deal Summary

Date February 18, 2019
Target Thrive Childcare and Education
Sector Education
Buyer(s) Apiary Capital
Banco Santander
Sellers(s) Rockpool Investments
Deal Type Secondary Buyout

Target Company

Thrive Childcare and Education

Edinburgh, United Kingdom
Thrive Childcare and Education operate 49 exceptional nurseries and providing a nurturing and stimulating environment where children come first every time. Thrive Childcare and Education was founded in 2001 and is based in Edinburgh, United Kingdom.
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Buyers Overview 2

Buyer

Apiary Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2017
PE ASSETS 200M GBP
Size Middle-Market
Type Sector Focused
DESCRIPTION

Apiary Capital is a private equity firm focused on the business services, education and healthcare sectors. The Firm seeks to acquire platform companies in attractive market segments and subsequently drive growth through a combination of roll-ups, roll-outs and strategic mergers. Apiary Capital was formed in 2017 and is headquartered in London.


Deal Context for Buyer #
Overall 2 of 12
Sector: Education 1 of 3
Type: Secondary Buyout 1 of 1
Country: United Kingdom 2 of 12
Year: 2019 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-23 TAG

London, United Kingdom

TAG is a travel management provider to the global live music and entertainment touring industry. TAG works with tour managers to arrange complex, often global, travel itineraries for performing artists and their support teams and production crews. TAG also serves the ‘high-touch’ segment of the corporate travel market, particularly the financial services and media sectors. TAG was founded in 1988 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-20 Conn3ct

London, United Kingdom

Conn3ct is a vendor-agnostic communications partner that helps multi-site organizations across the world to solve their communications challenges by delivering simple solutions to complex problems. Conn3ct offers a range of unified communications, contact centers, and global network service solutions. Conn3ct designs and delivers natural language automation to improve customer experience and operational efficiency by drawing on many years of knowledge and experience. Conn3ct is based in London, United Kingdom.

Buy -
Buyer

Banco Santander

Madrid, Spain

Category Company
Founded 1856
Sector Financial Services
Employees206,736
Revenue 63.8B EUR (2024)
DESCRIPTION

Banco Santander is a financial group operating principally in Spain, the UK, Portugal, and Brazil. Banco Santander is a provider of commercial and retail banking financial services. Banco Santander was founded in 1856 and is based in Madrid, Spain.


Deal Context for Buyer #
Overall 7 of 10
Sector: Education 1 of 1
Type: Secondary Buyout 1 of 1
Country: United Kingdom 3 of 4
Year: 2019 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-08 WiZink

Madrid, Spain

WiZink is a digital bank specializing in deferred consumer credit in Spain and Portugal. WiZink operates with its own banking license and has a unique specialization model: the bank serves customers through specialized channels (online, telephone banking and stands). In addition, strategic agreements with key partners allow WiZink to offer co-branded credit cards adapted to customers’ particular needs (e.g. Cepsa). WiZink was founded in 2000 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-21 Banco Santander S.A. - Puerto Rico

Puerto Rico

Banco Santander Puerto Rico operates as a bank and offers checking and savings accounts, credit cards, insurance, annuities, payments, collection, deposits, loans, and other banking services. Banco Santander Puerto Rico serves customers in Puerto Rico.

Sell $63M

Seller Profile 1

SELLER

Rockpool Investments

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 620M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rockpool Investments is a private investment firm that looks to provide growth capital and private debt to expansion stage companies throughout the UK. The Firm seeks well-established companies and will consider opportunities in a variety of sectors. Rockpool Investments was formed in 2011 and is based in London.


Deal Context for Seller #
Overall 1 of 12
Sector: Education 1 of 2
Type: Secondary Buyout 1 of 10
Country: United Kingdom 1 of 11
Year: 2019 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Spaceright

Scotland, United Kingdom

Spaceright is a manufacturer of visual communication equipment, ranging from our original patented unique revolving surface boards, dry marker boards, display boards, and many other educational and training accessories. Spaceright is based in Scotland, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Rooftop Film Club

Los Angeles, California, United States

Rooftop Film Club provides open-air cinemas on the roof of city buildings in London, UK, and in San Diego, Los Angeles, Houston and New York in the US. Customers enjoy film screenings at sunset into the night using state of the art projectors, high-quality headphones, deck chairs, and blankets, coupled with food and drink offering. Rooftop Film Club was founded in 2011 and is based in Los Angeles, California.

Buy -