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11: M&A Zing (Ep. 11) – Buy-Side Breakdown: 3 Freehold Nurseries in North-West England
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Welcome to M&A Zing - the weekly show for acquisition entrepreneurs, search-funders, and hold-co builders across the UK & Europe. In this episode, Alfie Lambert and *Gareth Hawkins* debut our second ever Buy-Side Breakdown*: a trio of freehold nurseries in North-West England (turnover £1.26 m, EBITDA £284 k, capacity 320). We dig into Ofsted ratings, valuation maths, platform-building strategy, and ultimately decide… would *you buy or pass?
Timestamps*
[00:00:12] Introduction & Welcome
[00:00:30] Co-host Banter & Show Format
[00:01:29] This Week’s News – Spanish search-fund deals, Moonbase’s Search Fund Squared
[00:04:08] Deal Overview – 3 freehold nurseries, key financials & capacity
[00:04:40] UK Nursery Roll-up Landscape – Busy Bees, Kids Planet, Bright Stars
[00:07:54] Listing Fundamentals – Revenue, EBITDA, Ofsted “Good”, staff count
[00:10:47] Location Deep-Dive – Manchester, Wythenshawe & Hartford catchments
[00:13:06] Freehold vs. OpCo Valuation – PropCo carve-out possibilities
[00:15:27] Growth Levers – Premium tiers, holiday clubs, 4th-site rollout
[00:21:00] Due-Diligence Watch-lis* – Staffing ratios, Ofsted cycles, property surveys
[00:24:40] Deal Structures – Vendor pension leases & commercial mortgages
[00:27:00] Buy or Pass? – Both hosts vote BUY
[00:32:00] Next Week & Symposium Plug
[00:34:00] Wrap-Up: “Keep on Crunching!”
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3. Episode Highlights / Quick Takeaways
Roll-up Ready – Freehold assets + professional management = perfect nursery platform.
PropCo-OpCo Split – Buying the operations and leasing the properties can lower entry cost.
Growth Upside – Capacity expansion, premium “Scandi-style” tiers, and holiday clubs.
Due-Diligence Musts – Fresh Ofsted reports, staff-tenure liabilities, deferred maintenance.
Both Hosts Say BUY – But will you? Drop your verdict in the comments!
Timestamps*
[00:00:12] Introduction & Welcome
[00:00:30] Co-host Banter & Show Format
[00:01:29] This Week’s News – Spanish search-fund deals, Moonbase’s Search Fund Squared
[00:04:08] Deal Overview – 3 freehold nurseries, key financials & capacity
[00:04:40] UK Nursery Roll-up Landscape – Busy Bees, Kids Planet, Bright Stars
[00:07:54] Listing Fundamentals – Revenue, EBITDA, Ofsted “Good”, staff count
[00:10:47] Location Deep-Dive – Manchester, Wythenshawe & Hartford catchments
[00:13:06] Freehold vs. OpCo Valuation – PropCo carve-out possibilities
[00:15:27] Growth Levers – Premium tiers, holiday clubs, 4th-site rollout
[00:21:00] Due-Diligence Watch-lis* – Staffing ratios, Ofsted cycles, property surveys
[00:24:40] Deal Structures – Vendor pension leases & commercial mortgages
[00:27:00] Buy or Pass? – Both hosts vote BUY
[00:32:00] Next Week & Symposium Plug
[00:34:00] Wrap-Up: “Keep on Crunching!”
---
3. Episode Highlights / Quick Takeaways
Roll-up Ready – Freehold assets + professional management = perfect nursery platform.
PropCo-OpCo Split – Buying the operations and leasing the properties can lower entry cost.
Growth Upside – Capacity expansion, premium “Scandi-style” tiers, and holiday clubs.
Due-Diligence Musts – Fresh Ofsted reports, staff-tenure liabilities, deferred maintenance.
Both Hosts Say BUY – But will you? Drop your verdict in the comments!
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