Firstcry ventures into pre-primary segment with acquisition of Oi Play School

LoEstro Advisors have already executed sales deals in excess of 2100 cr already in the education sector and have brought in global leaders into India besides working with leading Indian School Chains& Standalone schools.

Nov 27, 2019 02:11 IST India Infoline News Service

LoEstro Advisors acted as the exclusive financial advisor to Oi Play Schools, an initiative of People Combine Group on its sale to Edubees Education, an arm of Firstcry Group, a leading player in baby and kids shopping platform.
 
Firstcry is Asia's largest online store for baby and kids products and caters to the needs of of mothers buying for their kids from before the kid is born upto his/her early teens.
 
Naga Prasad Tummula, Chairman of People Combine Group commented, "LoEstro Advisors was instrumental in conducting an effective and competitive transaction process that ultimately maximized value for the Company’s shareholders. Our students and employees will both benefit with long-term vision of Firstcry for pre-primary business. LoEstro's advice throughout the process resulted in a successful outcome for all parties involved."
 
SupamMaheshwari, the CEO of Firstcry, commented on the transaction, “We are very happy with the accomplishments Oi Play School achieved over the years. It was a pleasure to work with the Company’s management team and LoEstro team and we wish them continued success.”
 
Rakesh Gupta, managing director of LoEstro Advisors' said, "We were honored to represent the owners of Oi Play School in this process. Our experience in education sector allowed us to pair Oi Play School with a strong partner that is committed to growing and investing in the Company’s future.”
 
The transaction represents yet another successful assignment completed by LoEstro Advisors after the recent Oakridge buyout by Nord Anglia. LoEstro Advisors have already executed sales deals in excess of 2100 cr already in the education sector and have brought in global leaders into India besides working with leading Indian School Chains& Standalone schools. With extensive sector-specific expertise and deep long-standing relationships, LoEstro team has a proven track record of completing highly tailored and successful transactions on behalf of their clients including setting up of Greenfieldscho.

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