One of the UK’s largest founder-owned nursery groups, with over 20 settings across the East of England and East London, has been acquired by AcadeMedia, marking the Swedish education group's entry into the UK early years market.
Founded over 20 years ago by Steven Davies and David Saunders from a single site, Chestnut has grown into a group of 21 nurseries spanning three regions: Cambridge, Norfolk and East London. The business has remained independent owned throughout, making it one of the largest few founder-owned nursery groups operating at this scale in the UK.
For AcadeMedia, the acquisition represents their first move into the UK nursery market, adding a proven, regionally diverse early years education provider to their European portfolio.
Mills & Reeve, led by corporate partner Jonathan Greenwood and principal associate David Hollier, provided legal advice to the Chestnut shareholders.
Jonathan commented: “It has been a privilege to have advised the founders and shareholders of the Chestnut group of nurseries on their successful sale to AcadeMedia. Chestnut is a genuinely impressive business – built from a single nursery, it has grown to a 21-site group over two decades and today enjoys an enviable reputation for quality. The acquisition of the group by AcadeMedia positions Chestnut well to capitalise on that reputation, and we wish both Chestnut and AcadeMedia every success for the future.”
Stuart Davies, corporate finance partner at Grant Thornton UK, led the firm's advisory team, which provided a fully integrated service across corporate finance, tax, financial modelling and financial due diligence.
Stuart 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 teams to deliver a result they could be proud of. We wish Chestnut every success as part of the AcadeMedia family.”
Steven Davies, co-founder of Chestnut Nursery Schools, added: “It was a pleasure to work with Mills & Reeve through the process. The team’s expertise, support and commitment to our ambitions provided invaluable to helping us achieve a successful and smooth transaction. We are extremely proud of the Chestnut group and are delighted that the business is able to continue its success within the AcadeMedia group.”
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