The acquisition makes JiaYi Education the first Chinese investor to buy a nursery group in this country.
Established in 1998 by William and Alison Lane, Bambinos Day Nursery operates four settings with a total of 280 childcare places and employs 85 staff.
Mr and Mrs Lane said they had make the decision to sell the business so that they could retire.
JiaYi Education is a Chinese listed company which publishes teaching material, carries out research and offers tutoring. It is particularly concerned with maths education.
The multi-million pound purchase of Bambinos Day Nursery is the company’s first venture into the early years sector.
The former owners’ daughter Jemma Honey will continue her role at the nursery group and work with Jiayi Education, who have expressed interest in purchasing more early years settings in this country in the future.
Sarah Ellison, senior childcare negotiator at Redwoods Dowling Kerr, who brokered the sale, said, ‘The owners of Bambinos Day Nursery made a life-changing decision to sell all four of their childcare settings. Mr and Mrs Lane wished to retire and in doing so needed an exit strategy that would allow them to follow their next steps in life. Each of the large nurseries are positioned within Plymouth, allowing the new owners to work with an established chain, with a renowned local reputation to start their UK brand.
‘Mr and Mrs Lane were very pleased to have two offers from known nursery operators but chose to work with London Thames Capital and their overseas investor (JiaYi Education), as they felt confident that their brand will be continued and grown with more successful years to come.’