To List on NYSE
The company, which is supported by the Partners Group, has applied to be listed on the New York Stock Exchange under the symbol KLC. The group of underwriters is led by Goldman Sachs, Morgan Stanley, Barclays, and JP Morgan. The management will use the proceeds from the offering to repay $548.4 million of outstanding loans and to pay $7.3 million of other expenses.
KinderCare is one of the largest providers of early childhood education in the US. With a footprint of more than 1,500 early childhood education centers, the company serves children in the age groups of six weeks to 12 years. Founded in 1969, KinderCare was acquired by Partners Group in 2015.
Key Numbers
In the six months ended June 29, 2024, the company’s revenues increased to $1.34 billion from $1.27 billion a year earlier. It reported net income of $26.78 million or $0.04 per share for the six months, compared to $71.70 million or $0.09 per share in the same period last year.
Total comprehensive income was $34.9 million in the first half, sharply lower than the $74.18 million reported in 2023. Adjusted EBITDA increased to $160.8 million from $146.5 million last year.