Stevens & Bolton LLP has advised the management team of long-standing client Asquith Day Nurseries and Pre-Schools (“Asquith”) on the sale of Asquith’s parent company to the New York Stock Exchange listed Bright Horizons Family Solutions Inc group (“Bright Horizons”).
Asquith is one of the UK's leading providers of high-quality child care and early years education serving the needs of working families. Based in Chesham, Asquith operates 90 nurseries throughout the UK, including England, Scotland and Wales, with roughly half located within the southeast greater London area. The addition of Asquith brings Bright Horizons' total number of nurseries in the UK to more than 300 and more than 1000 worldwide.
Andy Morris, chief executive officer of Asquith, said:
“Stevens & Bolton have advised the Asquith Group on a wide array of legal matters over the years and we were happy to instruct them for the sale to Bright Horizons. Throughout the acquisition process they provided us with reassuring and commercially astute legal advice on a number of complex issues, such advice being tailored specifically to our needs based on their in-depth knowledge of our business. We are delighted with the successful outcome achieved by the team and would highly recommend them to other management teams who are contemplating similar transactions.”
The Stevens & Bolton real estate team was led by Head of Department Andrew Steele, assisted by associate Richard Wilkin and many others. The Stevens & Bolton corporate team was led by partner Jonathan Porteous, assisted by senior associate Francesca Messina, associate Christopher Benjamin, and trainee Charlotte Burroughs.
Jonathan Porteous commented:
“We were delighted to work with Asquith’s excellent management team on this transaction. Asquith has been a fantastic client of ours for many years and we are sure that it will prove an excellent acquisition for the Bright Horizons group. We wish the new combined group every success for the future.”