On May 1st, Altor Fund IV (“Altor”) signed an agreement to enter into a partnership and acquire a majority of the Norwegian preschool chain Gnist Barnehager AS (“Gnist”) from founders and owners Kjersti and Bjørn Grønmyr. Kjersti and Bjørn will continue to stay active and own a minority stake in the company.
Gnist is a preschool chain with a unique concept focusing on a systematic approach to operations, supported by good practices. This ensures high and consistent quality in all Gnist preschools, with focus on the child’s individual needs and close cooperation with highly satisfied parents. The approach ensures that each child is given individual attention, follow-up and feels included in order to enable them to learn and grow at their own pace. Gnist Barnehager currently owns 17 preschools in Møre & Romsdal, Trøndelag and Hordaland.
”We are proud to enter into this partnership with Kjersti and Bjørn,“ says Maria Tallaksen, Partner at Altor. “We are impressed with Gnist, their employees and their approach and we are excited that Kjersti and Bjørn will stay on to develop Gnist Barnehager further,” Maria Tallaksen continues.
”In Altor we have found a partner that will uphold our core values,” says founder and manager Kjersti Grønmyr. “We will continue to be engaged, competent, efficient and innovative and through this ensure that each child has a caring, safe and developing time at our preschools,” Kjersti Grønmyr continues.
The transaction is subject to customary regulatory requirements and approvals.