Sydney-based buyout firm Wolseley Private Equity is reportedly selling its Australian childcare center operator Guardian Childcare Alliance, which could fetch as much as A$125m.
The Wall Street Journal said Wolseley has hired Fort Street Advisers to handle the sale, which is yet to launch formally, citing people familiar with the matter.
The sources also said the business has an EBIDTA of around A$15m, which means, based on earnings multiples of listed peers such as G8 Education, Guardian could be worth up to A$125m.
Wolseley acquired Guardian in 2010, making the fifth investment from its second fund. The business made a bolt-on acquisition last September, buying learning centre operator Jigsaw Corporate Childcare.
Wolseley invests in Australian and New Zealand companies with enterprise values between $20m and $100m. The firm currently has assets under management of $350m.
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