ICP Education, a childcare operator backed by private equity firm Oakley Capital, has bought Pear Tree Nurseries, a Scottish nursery group which comprises four settings with a combined capacity of 317 places.

With this deal, ICP intends to secure a strong presence within Scotland, following its recent purchase of Wee Gems Group (located in the Edinburgh and West Lothian regions) and its acquisition of Pilrig Children’s Nursery, which is also based in Edinburgh. ICP now have 65 settings across the UK, 11 of which are located in Scotland.

Oakley Capital acquired a majority stake in ICP in May 2021 by deploying capital from its €1.46 billion Oakley Capital Fund IV. The firm invested alongside the company’s management team led by chief executive Dominic Harrison and executive chairman Stephen Booty.

The acquisition of Pear Tree Nurseries was brokered by Redwoods Dowling Kerr.

Date Published: 8 June 2022

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