KinderCare Learning Companies (KLC) began trading on the NYSE on Wed 9 Oct 24

Largest provider of early childhood education in U.S. saw healthy demand for its IPO, which raised $576 mln in gross proceeds

• Sector: Consumer Defensive
• Industry: Education & Training Services
• Full Time Employees: 43,560
• Founded in 1969 
• Headquartered in Portland, OR
• https://www.kc-learning.com/

Opened at $27 after pricing 24.0 mln share IPO at $24/share, at the lower end of the $23-27 expected range.

 

The company, operating under the KinderCare, Creme School, and Champions brands, has a market-leading footprint of more than 1,500 early childhood education centers in the U.S.

In 2015, KLC was acquired by Swiss private equity firm Partners Group, which is retaining a71.1% stake in KLC following the IPO.

For the six months ended June 29, 2024, revenue increased by 6.2% to $1.345 bln. KLC has-been benefiting from the return-to-office trend, and it has also been raising prices. For this same period, operating income fell by 32% yr/yr to $114.2 mln as SG&A costs increased by11% to $169.0 mln.