BGF Invests €10.5m in Tigers Childcare10 Nov 2021
BGF invests over €10m in Tigers Childcare, one of Ireland’s largest childcare operators
Investment marks BGF’s 10th multi-million euro deal in Ireland in just 4 years
BGF, Ireland’s largest growth capital investor, has completed a €10.5 million equity investment in Tigers Childcare, a leading childcare service provider. This is the 10th investment by BGF in Ireland since the company began operations here in late 2017. It brings the total value of investments by the company in Irish businesses to over €60m in those four years.
Tigers Childcare was founded by Karen Clince in 2003. Today the business operates 13 childcare facilities in Dublin and one in London. It employs over 200 people and provides childcare services to more than 2,000 children.
Tigers Childcare is the third largest childcare provider in the country, based on number of sites. The market is generally dominated by single-site operators.
In September, the company acquired Little Fairies Creche and Montessori in Tallaght and is actively pursuing other acquisitions in the sector.
Speaking today, Leo Casey, head of BGF in Ireland, said the deal was particularly significant as it marked the company’s 10th investment since it began operations here in late 2017. Those 10 investments combine to represent over €60m deployed to support the growth plans of Irish businesses. Investee companies are from across the Irish business sectors including MedTech, Cybersecurity, Precision Engineering, Aircraft Maintenance, Nursing Homes and Home-building.
Leo added: “As our 10th investment – and one of our largest to date – this is a landmark deal for BGF. Tigers is a great business led by a charismatic and inspiring founder and with a clear growth plan. It’s another example of the extraordinary talent, energy and drive that you see across the Irish business community and we look forward to continuing to support these businesses as they grow and prosper in the years ahead.”
Head of BGF Ireland, Leo Casey, will join the Tigers Childcare board with Lauren Sharpe joining as an observer. The board is chaired by Cormac Tobin, the former CEO of healthcare group McKessons in the UK and Ireland. McKessons is one of the largest global pharmaceutical and healthcare companies that operates the Lloyds Pharmacy chain in the UK and Ireland. Tobin also holds several non-executive directorships including Chanelle Pharma.
Karen Clince, Founder and CEO of Tigers Childcare said; “We are delighted with this investment from BGF which will see us continue to grow and push boundaries in the childcare space in Ireland and the UK. While our financial wins are always exciting, much more exciting is the fact that our continued success means even more children and families have access to quality care, which leads to better outcomes for the children and families we serve."
"BGF really understands our business and the importance of maintaining quality through growth. It has felt very much like partnership from the start and they align perfectly with our culture and values. We look forward to Leo joining our board."
Cormac Tobin, chairman of Tigers Childcare added: “This partnership with BGF is an extremely exciting opportunity for our team of talented colleagues whose focus from the start has been to deliver exceptional childcare to as many families as possible in Ireland and the UK. The investment helps Tigers Childcare deliver on this vision.”
BGF takes minority positions
BGF takes minority positions in growing businesses. Unlike other investors, BGF does not seek to take control of a business in which it invests and is focused on supporting the growth plans of existing management and shareholders. BGF in Ireland is backed by ISIF and the main Irish banks.
Advisors on the transaction were:
BGF - Mazars (financial and tax due diligence) and Beauchamps (legal).
Tigers Healthcare - Deloitte Corporate Finance and Dillon Eustace (legal).
Issued on behalf of BGF by Gordon MRM
Note to Editor:
- Tigers Childcare’s dedicated childcare services range from full day services to after-school care to facilitate parents’ childcare needs from school ending time to normal working hours.
- Following the recent Budget 2022 announcements, there were a number of measures introduced as part of the €716million investment in Early Learning and Childcare to address the demands and alleviate the pressure experienced across the childcare sector. Such measures include providing funding to ensure sustainability of services, supporting providers to attract and retain qualified staff, and increasing the universal subsidy to offset childcare costs to all children under the age of 15 in conjunction with a commitment from providers not to increase parental fees.