IT'S SCHOOL TIME FOR MANAGEMENT BUY-OUT TEAM

Graham Paul Chartered Accountants have completed a management buy-out of childcare providers Schoolhouse Daycare Limited, one of the largest nursery groups in Wales.

With a turnover in excess of £1.2 million, Schoolhouse Daycare Limited has been purchased by former employees Amanda Bennett and Jocelyn Mort. The deal includes all five sites with over 80 staff and some 600 children on the register.

The business was first established in 1998 by husband and wife team Eurof and Joy Thomas with the first nursery opened in Singleton Hospital, Swansea. The two new Directors, Amanda Bennett and Jocelyn Mort, joined Schoolhouse as business managers in 1999 and 2004 respectively, following careers in teaching and training.

Over recent years, the team has successfully achieved IIP status and tendered to become the provider of childcare facilities for the Princess of Wales Hospital in Bridgend, DVLA in Swansea, Glangwili Hospital in Carmarthen and Neath Port Talbot Hospital (via Kier Facilities Services Limited). They have also recently secured 15 year renewed contracts with the NHS to continue to run the nursery in the Singleton and Princess of Wales Hospitals.

Advised by Graham Paul Chartered Accountants and solicitors Peter Lynn and Partners, the new owners of Schoolhouse have ambitious plans to develop the business as a UK provider of childcare facilities to both the private and public sectors.

"Our work with the NHS and commitment to providing high quality, flexible and affordable childcare has enabled us to build a team that share our passion and enthusiasm for running happy, safe and well-equipped nurseries," explains Director Amanda Bennett.

"As one of only a few nurseries in Wales to hold the Quality Counts Assurance Award from the National Day Nursery Association, we will now be focussing our efforts on consolidating the business with further investment in infrastructure and resource before embarking on our growth strategy to develop additional business as a leading provider of childcare facilities. The support from Graham Paul Chartered Accountants has been invaluable and given us the confidence to take the business forward to a UK wide level."

John Squire, Director of Graham Paul Chartered Accountants, believes that the management buy-out will benefit all involved:

"Amanda and Jocelyn are both absolutely committed to providing high quality child care with well trained staff. The success of the business is thanks to the efforts of the entire team who work hard to ensure a caring environment with excellent facilities while maintaining strong financial performance. We wish them every success."