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Grant Thornton UK has acted as lead advisor on the sale of 21 Chestnut Nursery Schools across Cambridge, Norfolk and East London to Swedish education provider AcadeMedia.
The transaction marks the Swedish group’s first entry into the UK early years market. Chestnut was acquired from its founders, Steven Davies and David Saunders.
The Grant Thornton advisory team, led by corporate finance partner Stuart Davies, provided integrated services across corporate finance, tax, financial modelling and financial due diligence.
Meanwhile, law firm Mills and Reeve, led by partner Jonathan Greenwood, provided legal advice to the Chestnut shareholders.
AcadeMedia is Europe’s largest education company, operating across seven countries – including Sweden, Norway, Finland, Germany, the Netherlands and Poland. Davies and Saunders established Chestnut from a single site more than 20 years ago.
Stuart Davies, corporate finance partner at Grant Thornton UK, said: “Chestnut is a genuinely impressive business – built from a single nursery in East London into a 21-site group over two decades, with a reputation for quality that speaks for itself.
“The founders set a clear goal, and it was a privilege to bring together our corporate finance, tax, financial modelling and financial due diligence teams to deliver a result they could be proud of. We wish Chestnut every success as part of the AcadeMedia family.”
