Busy Bees get new owner

A Staffordshire-based nursery operator has been sold to an Australian company for more than £70 million.

Busy Bees Childcare, based in Burntwood and Lichfield, was formed in 1983 by a group of parents who were unable to find high-quality childcare for their children.

It now employs 300 staff in Lichfield, Burntwood and Fradley and a further 1,500 across the country and is expecting to take on more over the next year.

The company has been acquired by ABC Learning Centres of Australia in a deal due to be completed on Monday.

The business is operated by founding directors Lynn Woodward, John Woodward, Margaret Randles and David Thackray, who were also joined by Simon Irons.

It is backed by private equity group Gresham LLP and has become the fourth largest private childcare provider in the UK through a programme of new-build construction and acquisition.

Busy Bees now operates 46 nursery facilities offering over 4,000 places.

Co-founder and director John Woodward said: "We are proud to have built this business in Staffordshire and have been fortunate enough to become a substantial employer in the area. This deal will provide Busy Bees with a platform to further grow the business, both locally and nationally."

A key area of the business is a voucher scheme for working parents, which makes childcare more affordable. Major UK employers like Asda and Sainsbury's are involved in the scheme, along with 168 local councils and over 300 NHS trusts, which is administered from offices in Fradley Park near Lichfield and employs 200 people

Busy Bees' Childcare Vouchers, which are non-taxable and exempt from National Insurance contributions for employees, currently help more than 50,000 working parents.

The deal with ABC Learning Centres includes the acquisition of the voucher business. Bosses said the deal will enable Busy Bees to expand further in the UK with both nursery and voucher activities.

ABC Learning Centres operates childcare centres in Australia, New Zealand and the United States.