Bright Horizons to acquire Australian child care operator Only About Children for AUD $450M

BRIGHT HORIZONS FAMILY SOLUTIONS INC.

Acquires 100% of Only About Children (OAC) for AUD $450M (~USD $320M), with AUD $300M at close and AUD $150M deferred 18 months later.
Transaction expected to close in Q3 2022, subject to Australian foreign investment approval and third-party consents.
Q1 revenue $460M (+18% YoY), adjusted EBITDA $63M (+36%), diluted adjusted EPS $0.47 ($0.23 prior year).
Revised FY2022 guidance: revenue $2.0-2.1B, diluted adjusted EPS $3.05-3.25.
Financing via cash on hand and existing revolver; foreign exchange forward contracts arranged.

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