KinderCare Learning Companies, the largest private provider of early childhood education and care services in the US, postponed its IPO on Friday, citing regulatory delays. It had filed to raise $503 million by offering 25.8 million shares at a price range of $18 to $21.
KinderCare is the largest private provider of early childhood education and care services in the US by center capacity. The company serves children ranging from 6 weeks to 12 years of age across its 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 October 2, 2021. KinderCare operates all of its centers under the KinderCare brand and utilizes a consistent curriculum and operational approach.
The Portland, OR-based company was founded in 1969 and booked $1.7 billion in revenue for the 12 months ended September 30, 2021. It had planned to list on the NYSE under the symbol KLC. Barclays, Morgan Stanley, Jefferies, BofA Securities, Goldman Sachs, Baird, Citi, Credit Suisse, and Macquarie Capital were set to be the joint bookrunners on the deal.
