- Stichting Bimbola sold its subsidiary company Childcare Bimbola (“Bimbola”), a Dutch childcare service provider, to Norlandia, a Norwegian care services provider with activities across Europe.
- Bimbola provides childcare services from 19 locations in Rotterdam. Due to succession issues, the board of Stichting Bimbola was looking for a strategic buyer that would secure the continuance of Bimbola’s activities, children and employees.
- With the acquisition of Bimbola, Norlandia strengthened its Dutch presence and now operates 66 childcare centers throughout the country.
- By joining forces, Norlandia and Bimbola combine a Scandinavian down-to-earth pedagogical vision on child development, with Dutch pragmatism.
- In 2005, the Dutch childcare system was privatized. Since then the sector has been highly regulated, with regulation expected to increase in the future. Compliance control has always been strict.
- The Dutch childcare market is experiencing high growth as a result of the economy recovery and substantial government subsidies.
- Dutch parents are the second highest users of childcare services in the EU, with 75% of Dutch children under 3 years attending childcare centers. Parents are entitled to childcare subsidies when their child is enrolled in a registered daycare or afterschool care.
- The transaction closed with an attractive valuation multiple, consistent with the multiple range seen in previous transactions in the childcare sector.
- Leveraging its extensive expertise in the sector, IMAP assisted Bimbola throughout the process; searching for and contacting potential buyers, preparing and marketing deal materials, as well as coordinating due diligence and negotiating deal terms.
- IMAP managed a competitive yet efficient process, whereby the client had the opportunity to review several interested parties and identify the most suitable buyer.
- “Thanks to our international IMAP partners, we were able to bring these 2 parties together, creating the ideal fit,” said Balthazar den Breems, Partner at IMAP Netherlands.
Thom Bartelse, Board Member of Stichting Bimbola, said:
“We are very satisfied with IMAP Netherlands’ services during the sale process of Bimbola. Their hands- on approach and professional advice ensured a smooth transaction. We believe that Bimbola is now in good hands and we look forward to its bright future with Norlandia.”