US: Sycamore Partners acquires early education franchisor Goddard Systems
New York City-based private equity firm Sycamore Partners has acquired Goddard Systems, franchisor of The Goddard School, from an affiliate of Wind River Holdings, a privately owned investment company.
Established in 1988, Goddard Systems operates in the premium early childcare and education market segment. Headquartered in King of Prussia, Pennsylvania, it licenses nearly 600 Goddard School franchises that cater to more than 80,000 students in 37 US states and Washington, DC.
Dennis Maple, chairman and chief executive of Goddard Systems, said: “Given our well-established foundation and clear strategic road map, we expect this to be a smooth transition for the franchisees and families we serve and support. Our team remains focused on providing families with the highest quality educational environment for which we are known.”
Barclays was financial advisor to Sycamore Partners, and Kirkland & Ellis and Ropes & Gray were legal counsel. Baird was financial advisor to Wind River, and Hogan Lovells was legal counsel.