Spire Capital Partners has made an investment in O2B Kids Early Education, a provider of early education services for children in the Southeast. No financial terms were disclosed. In addition to the funding, David Schaible, Andy Armstrong and Rupali Varma will join O2B’s board of directors. Hinge Brokers provided financial advice to O2B on the transaction.
GAINESVILLE, Fla., Oct. 4, 2018 /PRNewswire/ — O2B Kids Early Education (“O2B” or the “Company”), a leading provider of early education services for children in the Southeast, announced today that Spire Capital Partners has invested an undisclosed amount in partnership with management to acquire and organically build upon its existing footprint of schools. O2B was founded in 1998 by Andy Sherrard and Danny Stevens. Spire has also committed significant growth capital to support the expansion of O2B’s existing school operations, proprietary curriculum and technology management system.
Andy Sherrard will continue to lead the O2B management team as CEO. Mr. Sherrard and Mr. Stevens founded O2B and have led the Company since its founding. They shared a vision to provide schools that are focused on the education of children through enriching activities and play, led by exceptional educators in engaging environments. The Company utilizes its internally developed proprietary curriculum and provides Preschool, Afterschool and classes for music, dance, sports, science, arts, language and other elective activities. O2B is a leading provider in Florida and serves over 5,000 children annually. All O2B schools are nationally accredited, or currently in the accreditation process, with The National Accreditation Commission (“NAC”) for Early Care and Education Programs, with the currently accredited schools recognized by the State of Florida as Gold Seal Quality schools.
“I am thrilled to be leading O2B into this significant growth phase of the company,” said Andy Sherrard, CEO of O2B. “Our proven management team will continue to do what we enjoy – provide unique educational opportunities to children and partner with parents who are seeking the best education and development for their children. Our team has operated some of the highest quality schools in Florida for 20 years and we are thrilled to expand our school footprint to offer the same enriching opportunities to children in other geographies.”
“We believe O2B is well-positioned to capitalize on the increasing importance of early childhood education and is ready to bring its unique, educational business model to new communities,” said David Schaible of Spire. “We are excited to partner with Andy, Danny and their management team. Well-known in the industry, they are proven education entrepreneurs who provide a differentiated curriculum and learning environment for the development of young children.”
With an experienced investment partner in early education and proven management team, O2B plans to continue to expand its footprint of schools in areas that are currently underserved. The additional capital provided by Spire will also enable O2B to further invest in delivering unique curriculum and technology platforms for the development of its students.
David Schaible, Andy Armstrong and Rupali Varma will join O2B’s Board of Directors as part of the investment.
Dentons US LLP served as legal counsel to Spire Capital. Hinge Brokers acted as exclusive financial advisor to O2B, while Brashear & Associates served as legal counsel.
About O2B Kids
O2B Kids (http://www.o2bkids.com/) is a leading provider of early education services for children in the Southeast U.S. O2B offers preschool education for children 0 to 5 years old, afterschool enrichment programs for elementary school students, and an unprecedented family membership program for all kids 0 to 13 years old. For one all-inclusive price, O2B provides classes in karate, gymnastics, cheerleading, dance, music, drama, art, science, technology, sports, languages and more. While kids experiment with a rich variety of activities and discover their passions, parents enjoy unrivaled convenience and value. O2B’s magical facilities give a safe neighborhood back to kids and deliver valuable enrichment and character-building opportunities to our future generation. Follow O2B on Twitter (@O2BKids) and Facebook to stay up-to-date on all the latest news and events.
About Spire Capital Partners
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in small market companies within the technology enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.