In its report for 2002 the firm said the level of consolidation during the year indicated 'the burgeoning maturity' of the sector. Christie and Co acted on behalf of the Red Apple Nursery Group in Edinburgh, which was bought by Bright Horizons Family Solutions, and advised private equity company Alchemy, which financed the 22m management buy-out of Just Learning.
Christie and Co director David Beecham said, 'In last year's business review, we correctly predicted there would be further consolidation in the sector and fully expect 2003 to continue this trend. This, coupled with the increasing desire of women to return to work after giving birth, means there will be an increasing need for children's day nurseries, which will create further opportunities for growth in this fast-developing market.'
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