Bain Capital to acquire Camp Australia

The deal comes just a few months after the GP invested in Only About Children, which operates pre-school campuses for children up to the age of six in Sydney and Melbourne. Bain was also said to be among the bidders earlier this year when Navis Capital Partners sold Guardian Early Learning Group. That asset went to Partners Group at a post-deal valuation of A$440 million ($313 million).

There was competition for Camp Australia as well, with KKR also submitting binding offers, according to The Australian Financial Review. It added that the debt syndicate for the deal is being led by Citigroup and Westpac. Citigroup also advised Bain on the transaction.

Established in 1987, Camp Australia started out as a provider of after-schools sports coaching. After school care programs were introduced seven years later and the company now partners with more than 700 schools across the country.

"Through our due diligence we came to the belief that there is an excellent opportunity to grow operations further and we plan to invest in management, staff and services, guided by our belief that all Australian families want access to quality childcare," Ed Han, a managing director at Bain, said in a statement.

The acquisition is expected to close in early 2017. It was led by executives from Bain's recently opened Sydney office. Bain Capital Credit has maintained an office in Melbourne since 2013.

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