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FRP Financial Advisory has carried out due diligence on the acquisition of Water Babies Group Limited on behalf of Westerly Group and Elmsley Capital.
Water Babies Group Limited is the world’s largest baby and toddler swimming school, offering lessons to over 80,000 children annually across the UK, Ireland, Canada, The Netherlands and the USA through a franchise network.
FRP’s team, led by partner Justin Matthews, was appointed to deliver financial and tax due diligence services, carrying out a thorough review of Water Babies Group’s financial health and performance metrics. FRP Financial Advisory partner Jim Davies provided additional support by undertaking a valuation of growth shares.
The team successfully completed the transaction with third-party leverage funding secured. The acquisition will provide a platform for Water Babies Group to continue investment in its UK footprint and grow its market-leading swim education programme at new locations in the US.
Ross Brendel, Westerley Group, said: “FRP’s breadth of resources was indispensable during our investment process. In addition to facilitating an efficient FDD on a tight schedule, they helped us structure and navigate a cross-border acquisition with all the implications for our investors, the seller and the management team. Their approach reflected positively on the go-forward leaders of the business.”
Brian Burke, Elmsley Capital, added: “The whole team at FRP was a pleasure to work with, providing exceptional expertise and thorough analysis that gave us complete confidence in the transaction. We look forward to future engagements with them.”
Matthews concluded: “Growing from an independent business to an international brand is no mean feat, and Water Babies’ continued success is a testament to its passionate ownership and strong company-wide culture.
“In Elmsley Capital and Westerley Group, the business has found an investor which matches its core values and will be a committed partner for growth. We look forward to watching the business continue to go from strength to strength under its new stewardship.”
