A company owned by the Ontario Teachers’ Pension Plan has acquired all common shares of BrightPath Early Learning Inc., a Canadian childcare provider.

Pursuant to a previously announced arrangement, an affiliate of Busy Bees Holdings Ltd., a childcare provider owned by Ontario Teachers’, has completed its acquisition of BrightPath for 80 cents per share in cash.

“Over the past seven years, BrightPath has grown from a startup to a Canadian leader with more than 8,950 licensed child care spaces in Ontario, British Columbia and Alberta. At the same time, we created a new and unique opportunity for passionate caregivers to pursue a progressive career path in their field of interest, now employing more than 2,130 people,” said Jeffrey Olin, chairman of BrightPath, in a statement.

Busy Bees is a British-based childcare provider, with an additional presence in Singapore and Malaysia. BrightPath has 78 locations across the country.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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