Message #6 From:
NewsBot Date: August 8, 2006 11:00:00 AM
ABS News Learning Care Group, Inc. Teams Up With The Children's Courtyard; Leading Early Education Provider On-Track to Double in Size Over Next Two Years
NOVI, Mich.--(BUSINESS WIRE)--Aug. 8, 2006--Learning Care Group, Inc., one of the nation's premier childcare providers, announced today that it has entered into an agreement to acquire The Children's Courtyard, based in Arlington, Texas. The company expects the deal to close in early September.
The Children's Courtyard will continue to operate under its existing name and will fall under the Learning Care Group's umbrella of brands, which currently includes Childtime Learning Centers and Tutor Time Child Care / Learning Centers. The current operations management team for The Children's Courtyard will maintain their positions within the organization.
The Children's Courtyard currently operates 46 programs for children in the Dallas/Fort Worth, Austin and Houston areas. Founded in 1986, the company provides high-quality early childhood education and care in home-like settings furnished with state-of-the-art, age-appropriate equipment to meet children's developmental needs.
In addition, 83 percent of The Children's Courtyard schools are accredited by the National Association for the Education of Young Children (NAEYC), the industry's leading authority on early childhood education. Their remaining schools are currently involved in the accreditation process. Only four percent of early childhood programs nationally have achieved this endorsement.
"With its strong commitment to providing high-quality care and its focus on early education programs, The Children's Courtyard was an ideal fit for the Learning Care Group's strategic plan for significant market growth," said Bill Davis, president and CEO of Learning Care Group, Inc. "This partnership moves us closer toward our goal of providing the best early childhood education and family solutions available."
Currently, through its two brands, Learning Care Group, Inc. consists of a network of more than 450 schools throughout the United States and internationally. It is the third largest early education provider in the country and is well respected in the industry for providing a curriculum that inspires life-long learning, utilizing the latest technology advancements, and re-investing capital resources to ensure its centers are state-of-the-art.
"We are excited to become part of the Learning Care Group and look forward to the opportunities that this partnership will open up for both organizations," said Karen King, chief operating officer for The Children's Courtyard. "The commitment to early education, financial resources and management expertise that both companies bring to the table will further enhance our world-class programs and schools. In addition, Learning Care Group has found a partner with a strong reputation and brand recognition in the Texas market."
About Learning Care Group, Inc.
Learning Care Group, Inc. is the parent company of Tutor Time Child Care / Learning Centers and Childtime Learning Centers and was acquired by A.B.C. Learning Centres Limited in January 2006. As one of the nation's premier child care providers, the company has approximately 8,250 employees and has grown into a network of more than 450 centers, including operations in 25 states and internationally. For more information on Learning Care Group, please call 248-697-9000 or visit www.learningcaregroup.com.
About A.B.C. Learning Centres
Australia-based A.B.C. Learning Centres Limited (ASX:ABS) is the largest publicly traded childcare service provider in the world. For more information, visit www.childcare.com.au.
