Family First has acquired Cherry Childcare Day Nursery & Pre-school Group, a family-owned independent nursery group with 11 sites in Surrey, Hampshire, Berkshire and Buckinghamshire.
Established in 1993, Cherry Childcare is known for excellent first-class childcare and has an impressive annual fee income and corresponding profits.
Previously owned by Nigel Rolfe, the portfolio has now been bought by Family First Nurseries, taking the group to almost 100 places.
Nigel Rolfe, Managing Director of Cherry Childcare, commented: “After 14 years at Cherry Childcare, I have made the decision to retire from the nursery business and focus on other activities. After deciding to step down, the biggest challenge was who should take over. From the first discussions with Family First, it was clear that there was a consensus.
“I felt comfortable that Family First is an organization I would like to work with. Cherry Childcare is a significant purchase for any buyer, but it benefits from the wider resources that Family First offers. I would like to thank all the staff for their dedication and commitment to childcare and helping to make Cherry Childcare what it is today.”
Craig Grant, head of business development and strategy at Family First Nurseries, said: “Cherry Childcare is a great addition to our team and we’re delighted to have all the children and parents on board. We believe we are the right people to help Cherry Childcare maintain its position in the market as a premium group, but also to enable the people within the team to grow as part of the larger organization.
“We would like to thank Nigel for allowing us to take over his approximately 14 years in the industry and helping us through the process. This strong regulatory center provides an ideal springboard for further growth in and around this region.”
The sale was handled by Nick Brown and Sophie Willcox of Christie & Co, who commented: “We were very excited to be part of this high profile transaction, helping to add value and bring the transaction to a successful conclusion.
“This group is a great addition to Family First’s childcare portfolio and I am confident that Cherry Childcare can only improve the quality of their current group and help them continue to grow in and around this location.
‘2022 has been a phenomenal year for the Christie & Co team, where we have time and again been able to steer deals on behalf of sellers and set market prices achieved.
