The Cornwall-based chain, which currently owns 18 nurseries offering 1,318 places across the south west of England, obtained the funding from Santander Corporate and Commercial supported by BDO LLP and Foot Anstey legal advisers.
The money received includes a specialist growth capital loan, which Santander offers to UK businesses with annual turnovers of up to £50m that have a demonstrated history of high year-on-year growth in turnover, profit or employment.
The owners of Happy Days now plan to open three new, purpose-built nurseries, each with around 80 places, in 2018, with seven more to follow by 2020.
Founded by Robin and Sarah Karkeek in 1993, Happy Days has expanded to become the 19th largest nursery chain in the UK following a management buyout in 2012 backed by private equity firm Livingbridge.
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