M&A Deal Summary

American Securities and PSP Investments Acquire Learning Care Group

On May 5, 2014, private equity firm American Securities and pension PSP Investments acquired education company Learning Care Group

Acquisition Highlights
  • This is American Securities’ 1st and PSP Investments’ 1st transaction in the Education sector.
  • This is American Securities’ 43rd and PSP Investments’ 2nd transaction in the United States.
  • This is American Securities’ 3rd and PSP Investments’ 1st transaction in Michigan.

M&A Deal Summary
Date 2014-05-05
Target Learning Care Group
Sector Education
Buyer(s) American Securities
PSP Investments
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) BofA Securities
BMO Capital Markets (Financial)
Debevoise & Plimpton (Legal)

Target

Learning Care Group

Novi, Michigan, United States
Learning Care Group is a provider of early childhood care and education services in the US. The company focuses on the care and education of children between the ages of six weeks and 12 years. Learning Care Group operates under five distinct brands: La Petite Academy, Childtime, Tutor Time, The Children’s Courtyard, and Montessori Unlimited. Learning Care Group was founded in 1967 and is based in Novi, Michigan.

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Buyer(S) 2

Buyer

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based companies and generally seeks to commit $300 to $700 million per transaction. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York City.

DEAL STATS #
Overall 44 of 80
Sector (Education) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 21 of 28
State (Michigan) 3 of 4
Country (United States) 43 of 79
Year (2014) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Fairmount Santrol

Sugar Land, Texas, United States

Fairmount Santrol is a US producer of industrial sand in the United States. Fairmount Santrol services a wide variety of markets and industries, including oil and gas, glass, foundry, abrasive, filtration, pool filter, golf courses, artificial sports fields, and play sand.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-04 Emerald Kalama Chemical

Vancouver, Washington, United States

Emerald Kalama Chemical is a premier material solutions provider, with a wide portfolio of quality ingredients that bring value and performance to applications such as adhesives, foods, beverages, fragrances, cosmetics, home care, vinyl, and other consumer and industrial products. Emerald Kalama Chemical LLC was founded in 2006 and is based in Vancouver, Washington.

Buy -
Buyer

PSP Investments

Investor Investor Investor Investor Investor

Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.

DEAL STATS #
Overall 4 of 29
Sector (Education) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Michigan) 1 of 1
Country (United States) 2 of 11
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-28 Kinetic Concepts

San Antonio, Texas, United States

Kinetic Concepts, Inc. is a developer and marketer of an innovative medical devices for advanced wound healing and therapeutic treatment systems that address skin breakdown, pulmonary complications, and circulation problems associated with patient immobility. KCI's medical devices and therapeutic systems include V.A.C.® Therapy Systems, as well as specialty beds, mattress replacement systems, wheelchair seating, and related devices. KCI serves hospitals, nursing homes, and home care settings both in the U.S. and abroad.

Buy $6.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 Kinetic Concepts

San Antonio, Texas, United States

Kinetic Concepts, Inc. is a developer and marketer of an innovative medical devices for advanced wound healing and therapeutic treatment systems that address skin breakdown, pulmonary complications, and circulation problems associated with patient immobility. KCI's medical devices and therapeutic systems include V.A.C.® Therapy Systems, as well as specialty beds, mattress replacement systems, wheelchair seating, and related devices. KCI serves hospitals, nursing homes, and home care settings both in the U.S. and abroad.

Sell -
Mergr

Product

Company

Legal