Anchorage Divests Affinity Education Group
Anchorage Capital Partners (“ACP”) is pleased to announce that it has completed the sale of 100% of Affinity Education Group (“Affinity”) to funds managed by Quadrant Private Equity.
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Affinity is the second largest for-profit long day care provider in Australia with a national network of more than 150 centres. Under ACP’s ownership and the leadership of ACP-appointed CEO Tim Hickey, Affinity has been built into a systemised and standardised network, scalable for growth and with a clear focus on middle income Australia.
ACP acquired 100% of ASX listed Affinity in a take private transaction in 2015. As part of its acquisition, ACP developed a comprehensive performance improvement program to leverage the full potential of Affinity’s portfolio of early education long day care centres.
Daniel Wong, ACP Managing Director and Affinity Chairman said “the systems, processes, and culture embedded through ACP’s improvement program have driven strong business momentum and positioned Affinity to continue its track record of above market occupancy growth and consolidation. We look forward to following its continued growth under Quadrant’s ownership.”
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