Harvard graduates got help from Ivanhoe Capital Advisors for a daycare acquisition in Columbus, Ohio, and of course, we got the deal closed. Here’s the story…
Two Harvard graduates and a high-level executive got into Child Services (daycare) to make a difference. Believe it or not, child services is a $40B industry in the US! For the last few years, this group of guys has been on a mission to scale, own, and operate as many early child development schools as they can acquire as possible in the Ohio River Valley.
They owned eight schools already in a very short period of time, and we had the opportunity to finance their newest addition in Columbus, Ohio.
Now, I want to say these guys are sharp and are doing it right. This school had been around for 17 years and made it through the pandemic. Their goal with this daycare acquisition was to keep as many of the current staff as possible and treat them well, maybe even better than the old owners did in some cases.
They are truly legacy buyers for these schools even though they are scaling multiple locations. They really believe in the golden rule: treat people like you want to be treated and it is really working in their favor!
Now here is what we did for them. This was a total blue-sky scenario without any real estate. We were able to give them an SBA 7A loan structure with a fixed rate 2.25 over prime for 10 years, a little bit under $1.2M, with as little down as possible. These guys are moving like a freight train and we love it! Fellas, let’s get the next one done!
Let me be blunt. Here at Ivanhoe Capital, we structure deals to close and we don’t waste your time. We want to get acquisitions done and if we can’t, we will let you know RIGHT AWAY and WHY!