Apax Partners has agreed to buy early childhood learning business Cadence Education from Morgan Stanley Capital Partners.
Cadence Education serves families and students in more than 225 private preschools through a network of over 40 brands, including the company’s flagship Cadence Academy brand.
Apax said its investment would support Cadence to continue its “impressive growth trajectory”, including strategic acquisitions and the expansion of core operational capabilities.
Morgan Stanley bought the business in September 2016, when its platform was just 150 schools.
Nick Hartman, partner at Apax, said, “We look forward to working with Dave and the Cadence Education team to continue to execute the strategy that has established the company as a leader in the early childhood education space.
“Cadence Education’s focus on children and parents delivers industry-leading customer satisfaction which, in combination with a highly-skilled team, positions the company for continued growth.”
Debevoise & Plimpton served as legal advisor, and William Blair and Lazard Middle Market served as financial advisors to MSCP. Simpson Thacher & Bartlett served as legal advisor to Apax Partners.
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