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KinderCare Learning Centers

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KinderCare Learning Centers
Company typeIncorporated, Private
IndustryEarly Childhood Education
FoundedJuly 14, 1969; 55 years ago (1969-07-14)
Montgomery, Alabama, U.S.
FounderPerry Mendel
HeadquartersPortland, Oregon, U.S.
Number of locations
1,500 locations (2020)[1]
Key people
Tom Wyatt, CEO[1]
Number of employees
36,000[1]
ParentKinderCare Education
Websitewww.kindercare.com

KinderCare Learning Centers is an American operator of for-profit child care and early childhood education[2] facilities founded in 1969 and currently owned by KinderCare Education based in Portland, Oregon.[3][4] The company provides educational programs for children from six weeks to 12 years old. KinderCare is the third-largest privately held company headquartered in Oregon.[4] In 39 states and the District of Columbia, some 200,000 children are enrolled in more than 1,600 early childhood education community centers,[2] over 600 before-and-after school programs,[5] and over 100 employer-sponsored centers.

History

Founding

Perry Mendel, a real estate developer, founded Kinder-Care Nursery Schools after speculating that increasing numbers of women entering the workforce would increase demand for preschool child care. The first facility was opened on July 14, 1969[6] accommodating 70 children. A second facility was opened in 1970, and the company changed its name to Kinder-Care Learning Centers, Inc. By 1971, 19 centers were in operation and the first infant care was offered.[6]

One of the company's schools in Hillsboro, Oregon

The firm went public in 1972; by 1974, the company had 60 centers located in 17 states and over 500 employees nationwide. The company's first major acquisition came in 1977, when it purchased the 15 facilities of Playcare. In 1979, it acquired Mini-Skools, Living and Learning, and American Pre-Schools. In 1985, the company opened its 1,000th center.

In 1987, it reported annual revenues of $900 million, and analysts were remarking on the company's rapid growth,[citation needed] observing that stock had soared from 12 cents a share to $20 at its high in mid-1987. During this time, Kinder-Care was expanding at the rate of one new center every three days.[citation needed]

In 1987, Kinder-Care acquired Sylvan Learning Centers, a provider of supplemental instruction to children and adults, and the largest franchiser of its kind.[citation needed]

In 1992, the company updated its bell tower logo and removed the hyphen in the spelling of Kinder-Care.[citation needed]

KinderCare Education

KinderCare uses low teacher-to-student ratios that allow teachers to focus on the individual learning styles and needs of each child. Teacher-to-student ratios increase with each age group. For example, the teacher-to-student ratio in preschool classrooms is one teacher to twelve students, higher than other childcare facilities in the area. For example, La Petite Academy has a teacher-to-student ratio of one teacher to eight students in the preschool classroom.

KinderCare offers a developmentally appropriate and comprehensive curriculum for children in each age groups. Each hour of the day is scheduled, even transitions from one activity to the next are laid out in the curriculum provided to the teachers. Two week units are built around themes that will interest the child. The lesson plans and activities support the physical, cognitive, and social-emotional development of the children. Daily lesson plans are given to teachers to complete in the classroom with the children. The format of the lesson plans are rigid to ensure children receive the same education in order to achieve universal success. Activities are required to be displayed on boards that are expected to change each week.

KinderCare offers programming for school-age children, as well. KinderCare provides door-to-door transportation for children to and from school. Full-day care for summer, winter, and fall break is offered for school-age children as well. School-aged children typically spend two hours before and after school at KinderCare centers. The KinderCare school-age curriculum focuses on social-emotional development in order to support children in becoming the kindest, most capable, and most resilient version of themselves. Daily lesson plans and activities are expected to be completed, including STEM projects, creative arts projects, despite the limited hours.

Bankruptcy

In the 1980s, Kinder-Care acquired a wide variety of companies such as American Savings for $188 million.[7] They also purchased photo studios, shoe stores and even invested in a foreign fertilizer manufacturer.

Chief Executive Grassgreen, informed by Michael Milken, an investor from the firm of Drexel Burnham Lambert, led the company on an ill-conceived diversification plan in the late 1980s. As a result, the company's debt load increased from $10 million to about $620 million in 1988. The company found itself in deep financial trouble after the stock market crash in October 1987.

During this period, Tull Gearreald, an investment banker, took command of the company as president and CEO. Caught in a cash squeeze in January 1991, Kinder-Care stopped paying interest on its debt.[8] Still faltering under its high debt load, KinderCare filed for Chapter 11 bankruptcy protection on November 10, 1992. The company continued operating, although, according to a 1988 Forbes article, less than half of Kinder-Care's sales and profits for the year were expected to come from its child care centers. In January 1993, in a move that helped their balance sheet, KinderCare sold off Sylvan Learning Centers for $8 million.

Post-2000 financial history

KinderCare was acquired in 2005 by the Knowledge Learning Corporation (KLC) division of Michael Milken's privately held education services firm, Knowledge Universe.[9] The deal, valued at over US$1 billion, made KLC the nation’s largest private child care and education provider.[10]

In 2012, company revenues were $1.45 billion, down from $1.6 billion in 2010.[11]

In July 2015, Partners Group, a Swiss enterprise, bought Knowledge Universe.[12][13] Knowledge Universe renamed itself as KinderCare Education in January 2016.[14] The parent company, KinderCare Education, also operates Knowledge Beginnings, Children’s Creative Learning Centers (CCLC), and Champions.[15]

COVID-19 response

Main article: COVID-19 pandemic in Oregon

During the 2020 coronavirus pandemic, KinderCare shut down 1100 of their approximately 1500 daycare centers, leaving the centers that have large proportions of first responders and healthcare workers.[1]


Accreditation

The National Association for the Education of Young Children (NAEYC) and other associations have accredited over 700 KLC centers.[16][better source needed]

See also

References

  1. ^ a b c d Ted Sickinger (20 March 2020). "KinderCare to close 1,100 daycare centers, refocus 400 on first responders". Oregonlive. Retrieved 21 March 2020. KinderCare, the Portland-based operator of 1,500 daycare centers in 40 states, said it will temporarily shut more than two-thirds of its centers because of the coronavirus pandemic.It said it will refocus more than 400 centers to provide childcare for first responders, healthcare workers and families that work in essential services. It could reopen more depending on demand.The company employs about 36,000 teachers and serves 186,000 children every day. It did not say how many of those employees and children would be affected.
  2. ^ a b "15,000 BOOKS...TEN STATES...AND SEVEN COUNTRIES: KINDERCARE "READ.SHARE.GIVE" CAMPAIGN PROMOTES EARLY READING" (PDF). 22 September 2011. Archived from the original (PDF) on 28 May 2012.
  3. ^ Linda Baker (27 January 2011). "Knowledge Universe reaches $1.6 billion in revenue". Oregon Business. Archived from the original on 15 October 2014.
  4. ^ a b Giegerich, Andy (January 6, 2016). "Why a $1.5B Portland powerhouse is changing its name". Portland Business Journal. Retrieved 22 January 2016. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  5. ^ "Before-and-After School Programs, Break-Time Camps For Winter, Spring and Summer - Champions". discoverchampions.com. Archived from the original on 2012-12-12.
  6. ^ a b "KinderCare Learning Centers, Inc. History". fundinguniverse.com.
  7. ^ Tracy Kolody (30 April 1988). "Kinder-care Buys American Savings". Sun Sentinel.
  8. ^ "Can Kinder Care Put This Puzzle Together?". Business Week. 23 February 1992.
  9. ^ "Milken, KinderCare reunited". CNN Money. 6 November 2004.
  10. ^ "Knowledge Learning to buy KinderCare in $1B-plus deal". San Francisco Business Times. 8 November 2004.
  11. ^ Linda Baker (28 May 2013). "Expanding universe". Oregon Business. Archived from the original on 27 December 2014.
  12. ^ Giegerich, Andy (July 9, 2015). "Oregon's third-largest private company sold to Swiss enterprise". Portland Business Journal. Retrieved 12 January 2016.
  13. ^ Spencer, Malia (July 9, 2015). "Knowledge Universe CEO Tom Wyatt on why Partners is the perfect partner". Portland Business Journal. Retrieved 12 January 2016.
  14. ^ Giegerich, Andy (January 6, 2016). "Oregon's 3rd-largest private company renames itself with its best-known brand". Portland Business Journal. Retrieved 12 January 2016.
  15. ^ "KinderCare Learning Centers". KU. Archived from the original on 2014-11-22.
  16. ^ "KinderCare Learning Centers Accreditation". KLC. Archived from the original on 2008-03-13.
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