KKR may soon buy the EuroKids chain
Make way for one of the largest investments in the Indian education center! KKR & Co., a giant global equity firm, is going to acquire around 92% of the EuroKids, Kangaroo Kids, and Billabong High Chains, reports suggest.
Gaja Capital and Swiss Fund Partners Group are the existing private equity investors, owning 75% and 17% stake respectively. KKR will buy the stakes at around Rs. 1500-2000 crore, making it an unprecedented move. Promoters have the minority (8%) stake, which is expected to remain with them even after the purchase.
EuroKids is among the largest pre-school network in India with over a thousand schools in 360 cities across the country. It was founded in 2001 by Prajodh Rajan and Vikas Phadnis. The Group operates on its own and also through franchises.
This deal stamps the fact that the pre-school education sector in India is booming like never before. The market is currently valued at Rs. 25,000 crores. In the coming years, we can expect even more growth. KKR
A formal announcement has not reached us yet, but we are hoping for one in the next couple of weeks.
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