UK - Rhone Capital exits Early Learning Centre after acquisition by Mothercare

Chelsea Stores, the owner of the Early Learning Centre children's toys retailer, has been acquired by Mothercare for £85m in cash and shares. The deal represents an exit for Rhone Capital, a private equity player which participated in the consortium that acquired Early Learning Centre in 2004 in a £62m deal from 3i. Scottish Printing company DC Thompson and Tim Waterstone, founder of Waterstone's book shops were also part of the consortium.