Activa’s La Maison Bleue bolts on La Part de Rêve

The acquisition will see La Part de Rêve's 38 nurseries and 330 employees incorporated into La Maison Bleue's network. According to the buyer's estimates, the move will push its revenues up to €100m for 2015, with plans to bring that up to €120m and €150m in 2016 and 2017.

In parallel, the nursery operator is working to reinforce its foothold in Switzerland and will consider entering additional countries by 2017.

The bolt-on is the second by La Maison Bleue since it was picked up by Activa in December 2012. According to unquote" data, the GP acquired a majority stake in the business alongside the management and EPF Partners, while keeping a leading minority interest for itself. Enterprise value for the asset was not disclosed, but Activa targets companies in the €30-200m space.

At the time, the firm stated it would support the nursery group's expansion roadmap, featuring not only autonomous growth via the creation of 20 new nurseries every year but also external acquisitions. First to be purchased was Crèches Baby & Co, a business in eastern France that brought 65 employees and €2.7m in revenues when it was integrated in July 2013.

Company
La Part de Rêve was founded in 2005 and is an operator of daycare nurseries. With headquarters in Plaisance-du-Touch, the company employs 300 professionals across a network of 38 establishments in 10 French regions.

Founded in 2004, La Maison Bleue specialises in the creation and management of private nurseries. Having opened its first facility in 2007, the group has grown to employ 2,200 professionals across 180 nurseries in France and abroad, together representing an estimated €100m in turnover for 2015.

People
Olivier Nemsguern, Christophe Parier, Sophie Rouland and Jean-Baptiste Salvin all led the Maison Blue deal for Activa in 2012.

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• Activa Capital