This move will accelerate Posten’s growth by enabling adoption of agile working methods, harmonising IT services and driving automation.
KKR on Thursday said it has completed the acquisition of a majority stake in EuroKids franchise from its existing investor consortium led by Gaja Capital. EuroKids is an education services provider in the Pre-School and K-12 segments and its portfolio includes EuroKids, EuroKids DayCare, Kangaroo Kids, EuroSchool and Billabong International.
KKR did not disclose the financial details of the transaction.
However, according to reports, KKR had been looking to acquire close to 92% in EuroKids for about `1,500-2,000 crore. According to reports, Gaja Capital held 75% stake while Swiss fund Partners Group held 17% in the company.
KKR said it will work closely with EuroKids and its portfolio of brands to identify both organic and inorganic growth opportunities and ways to enhance offerings and practices.
“Areas of focus include tech-enabled/digital learning and tailored pedagogy to provide more students with access to a world-class, holistic education.
“Having acquired Kangaroo Kids and Billabong High franchise in 2017, EuroKids has a successful track record of mergers & acquisitions in the education services space, and looks to continue adding high-quality education brands to its portfolio,” KKR said.
EuroKids will continue to be managed by its team of educators, administrators and management team led by co-founder and group CEO Prajodh Rajan, who will also remain a shareholder in the company.
Ajay Candade, Director at KKR, stated that the desire for high-quality educational services is at an all-time high in India. “The country has over 125 million children in the two-to-six age range, as well as the largest K-12 population in the world at 320 million people. We are excited to support families looking to provide their children with a world-class, new-age learning environment,” he said.
Prior to this, KKR has been making investments in the education space, that include Cognita Schools, a UK-based global private schools group, Weld North Education, a platform operator of digital and SaaS educational solutions, and Kindercare, a US-based operator of early-education and child care education facilities. KKR makes its investment from its Asian Fund III.
Avendus Capital was the exclusive financial advisor to the company and the sellers.