Home-grown private equity fund Gaja Capital and Swiss fund Partners Group have put their preschool chains EuroKids, Kangaroo Kids and Billabong High on sale. The chains are valued at $300 million.
Both the PE investors together hold about 75% stake in EuroKids. They have also hired Avendus Capital for running the sale process.
Having a network of 1,000 schools across the country, EuroKids Group was founded by Prajodh Rajan and Vikas Phadnis in 2001. The group operates through the franchise model across India. It had earned revenue of Rs 350 crore in FY18.
Kangaroo Kids and Billabong High International Schools were acquired by the EuroKids last year. Kangaroo Kids has a network of 79 pre-schools while Billabong High Schools has a network of 21 schools.
EuroKids is spread across 360 towns in India, Nepal and Bangladesh. It runs a chain of 10 K-12 schools across six cities in India. Billabong High is present in Qatar, Dubai, Maldives and Saudi Arabia.
Gaja Capital was founded in 2004. It manages assets of about $500 million across its three funds and has a major focus on the consumption segment.
