Bright Horizons Goes Public

Bright Horizons Family Solutions, the world's largest provider of employer child care, went public again last week.  And, the market greeted the offering well. According to the Wall Street Journal trading "got off to an auspicious start, as shares ... popped in their return to public markets."

"Bright Horizon's shares surged $6.32, or 29%, to close at $28.32 Friday on the New York Stock Exchange.... Bright Horizons was listed on the NASDAQ Stock Market... until private-equity fund Bain Capital LLC took it private in 2008. Bain is keeping an 80% stake in the company...."

"The company provides its child-care services to companies, hospitals, universities, and government agencies... in the U.S., Britain, the Netherlands, Ireland, Canada, and India. It signs companies to long-term contracts that allow Bright Horizons to operate centers at or near their work sites. The employers generally fund the development and maintenance of the centers and subsidize the services in order to lower costs for employees.

"'We've long believed that employers would continue to stake an interest in the life issues that affect how productive people can be at work [and] help them navigate work-life obligations,' Bright Horizons' CEO David Lissy said. He said part of the attraction for investors is a long-term demographic shift toward more families with two working parents, plus a greater number of working mothers with young children."

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