Tigers Childcare, one of Ireland’s biggest leading childcare service providers, has secured a €10.5m equity investment from BGF.
Founded in 2003, Tigers Childcare operates 13 childcare facilities in Dublin and one in London. The venture employs over 200 people and provides childcare services to over 2,000 children.
Tigers says it is the third largest childcare provider in Ireland, based on number of sites. In September, the company acquired Little Fairies Creche and Montessori in Tallaght, and says it is actively pursuing other acquisitions in the sector.
Founder and CEO Karen Clince commented: “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."
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Clince added: "BGF really understands our business, and the importance of maintaining quality through growth. It has felt very much like a partnership from the start and they align perfectly with our culture and values.”
The childcare sector generally is befitting from ever-increasing state subsidies to providers and parents of young children. Early Learning subsidies are slated to cost taxpayers over €700m through 2022.
Leo Casey, head of BGF in Ireland, said the deal is BGF’s tenth investment since it began operations in Ireland in late 2017.
According to Casey: “This is a landmark deal for BGF. Tigers is a great business led by a charismatic and inspiring founder with a clear growth plan. It’s another example of the extraordinary talent, energy and drive that you see across the Irish business community. We look forward to continuing to support these businesses as they grow and prosper in the years ahead.”
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.
BGF was advised by Mazars (financial and tax due diligence) and Beauchamps (legal). Tigers Childcare took counsel from Deloitte Corporate Finance and Dillon Eustace (legal).
Photo: Karen Clince and Leo Casey. (Pic: Fennells)
