Morgan Stanley Private Equity to buy 60% of Learning Care

Morgan Stanley Private Equity definitively agreed to acquire 60% of Learning Care Group, the companies said on Tuesday. The deal values all of Learning Care Group at $700 million. Learning Care, the U.S. subsidiary of A.B.C. Learning Centres of Queensland, Australia, operates about 1,150 corporate and franchise schools in 37 U.S. states. Based in Novi, Mich., Learning Care operates under five brands: Children's Courtyard, Childtime Learning Centers, La Petite Academy, Montessori Unlimited and Tutor Time Child Care/Learning Centers. Morgan Stanley's private-equity-investment unit hopes to close the deal within 90 days, subject to conditions including regulatory clearances.