The EuroKids Group operates pre-schools, schools -- Billabong High and Kangaroo Kids -- and daycare centres under the same brand name
Private equity firm KKR may acquire 90 percent stake in EuroKids Group from Gaja Capital and the company's founders, Business Standard reports.
The transaction will likely be undertaken in a single tranche of Rs 1,400 crore ($200 million) and is expected to be concluded by August-end, the report said.
The EuroKids Group operates pre-schools, schools -- Billabong High and Kangaroo Kids -- and daycare centres under the same brand name.
Moneycontrol could not independently verify the report.
Growth capital firm General Atlantic had expressed interest in a deal with EuroKids, sources told the paper.
This will be KKR’s third deal in India this year, after it bought controlling stakes in Ramky Enviro Engineers and Max Healthcare.
Radiant Life Care, backed by KKR, had acquired Max Healthcare in December 2018. A few month prior to the deal, KKR acquired 60 percent stake in Ramky Enviro Engineers for $530 million (about Rs 3,700 crore).
KKR’s previous investments in the education include UK-based Cognita Schools and US-based Laureate International Universities.
Gaja Capital and Swiss fund Partners Group together hold around 75 percent stake in EuroKids. The two companies had initially acquired a 50 percent stake in 2013.Founded in 2001 by Prajodh Rajan and Vikas Phadnis, EuroKids Group reported a revenue of Rs 350 crore in FY18.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.