KinderCare Learning Companies, Inc. (KC Holdco)

General Information
Business:

We are the largest private provider of high-quality early childhood education and care services (“ECE”) in the United States by center capacity. We are a mission driven organization, rooted in a commitment to providing all children with the very best start in life. We serve children ranging from 6 weeks to 12 years of age across our market leading footprint of 1,490 early childhood education centers with capacity of more than 195,000 children and contracts for more than 650 before- and after-school sites located in 40 states and the District of Columbia as of Oct. 2, 2021. We believe families choose us because of our differentiated, inclusive approach and our commitment to delivering every child a high-quality educational experience in a nurturing and engaging environment. We operate all of our centers under the KinderCare brand and utilize a consistent curriculum and operational approach across our network.

We offer a differentiated value proposition to the children, families, schools and employers we serve, driven by our market-leading scale and commitment to quality, access and inclusion. We leverage our extensive network of community-based centers, employer-sponsored programs, and before- and after-school sites, to meet parents where they are; an important factor in the context of evolving work styles as a result of the novel coronavirus (“COVID-19”) pandemic. We utilize our proprietary curriculum with the goal of generating superior outcomes for children of all abilities and backgrounds. We use third-party assessment tools that consistently show children in our centers outperform their peers in other programs in readiness for kindergarten. We voluntarily seek accreditation at all of our centers and onsite programs, demonstrating our commitment to best practices for our sector. Our commitment to transparent, third-party validation of the quality and impact of our offerings is a critical factor for parents when selecting a center for their children. Our culture promotes high levels of employee engagement, which leads to better financial performance of our centers. Our expertise helping families access public subsidies for childcare is a core competency and drives greater levels of diversity and access in our centers.

(Note: Revenue and net income figures are for the 12 months ended Oct. 2, 2021.)

(Note: On Friday, Nov. 19, 2021, KinderCare Learning Companies, Inc., said it has postponed its IPO, citing regulatory delays. KinderCare had trimmed its IPO at pricing on Nov. 17, 2021, to price the IPO at $15 – $3 below the bottom of its $18-to-$21 range – and priced 23.71 million shares (23,713,400 shares to be exact) – down from 25.78 million shares in the prospectus – to raise $355.65 million. **The stock had been expected to start trading on the NYSE on Friday, Nov. 19 – a delay of a day from its original trade date of Nov. 18. The company was waiting on the SEC to declare its IPO effective.) 

Industry: SERVICES-CHILD DAY CARE SERVICES
Employees: 35000
Founded: 1969
Contact Information
Address 650 NE Holladay, Suite 1400 Portland, OR 97232
Phone Number (503) 872-1300
Web Address http://www.kindercare.com/
View Prospectus: KinderCare Learning Companies, Inc. (KC Holdco)
Financial Information
Market Cap $2747.16mil
Revenues $1713.75 mil (last 12 months)
Net Income $9.13 mil (last 12 months)
IPO Profile
Symbol KLC
Exchange NYSE
Shares (millions): 23.7
Price range $15.00 - $15.00
Est. $ Volume $355.7 mil
Manager / Joint Managers Barclays/ Morgan Stanley/ Jefferies/ BofA Securities/ Goldman Sachs/ Baird/ Citigroup/ Credit Suisse/ Macquarie Capital
CO-Managers Loop Capital Markets/ Ramirez & Co./ R. Seelaus & Co.
Expected To Trade: 11/19/2021
Status: Postponed
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change