A childcare business in Australia has scoped up ten early learning centre for employees of blue chip corporate companies. How blue chip? And why are top companies providing and valuing on-site childcare for employees' children?
Sydney, Sept 2012 - Australian bankers with young children will be lining up to keep Wolseley Private Equity on side after its Guardian Childcare Alliance business scooped up Jigsaw Corporate Childcare for an undisclosed sum.
Jigsaw owns and operates ten early learning centres for employees of blue chip corporate clients.
But just how “blue chip” are we talking? Deal Journal Australia has some favourites:
Little Steps on Bligh St opens its doors to Goldman Sachs children as well as families of the policymakers at the Reserve Bank of Australia.
The Playroom on Philip Street in Sydney’s Central Business District, or CBD, welcomes families of Deutsche Bank and UBS, Max and Milly’s in North Sydney caters for families of National Australia Bank and MLC, while Cheeky Monkeys and Cherry Blossoms, also in Sydney CBD are open to Commonwealth Bank of Australia families.
Close to Citigroup on Market Street in Sydney is Trumpets, while Snapdragons on Margaret Street is exclusively available to Macquarie Group families.
“There is significant demand from Australian companies for high quality early childhood education for their employee’s children and many businesses now see onsite childcare as a key tool in attracting and retaining staff,” Wolseley director Richard Burrows said.
Since Wolseley purchased Guardian 18 months ago, the group has doubled in size and now includes a portfolio 27 suburban early learning centres, a childcare centre management service which covers 37 facilities, excluding Jigsaw.
Altogether, its revenue for fiscal 2013 will exceed $A100 million, derived from 11,000 families.
Wolseley expects corporate childcare to be a focus of significant growth for Guardian, which will look to expand Jigsaw’s footprint in Sydney as well as Melbourne, Brisbane and Canberra when appropriate sites become available.
For more, visit wsj.com.