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A Miami company just made a big move in childhood education. Learn how many centers they bought and where.
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STORY HIGHLIGHTS
- Fortec made a $32.9 million deal for 10 learning centers.
- The acquisition spans six states, including Kentucky and Georgia.
- Fortec's footprint now reaches across 12 states.
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Fortec, a company that builds and invests in early childhood education centers, made a record-breaking $32.9 million deal to buy 10 early learning centers across six states, expanding its reach from South Florida.
The 10-property acquisition includes early childhood education centers in Louisville and Crestwood, Kentucky; New Berlin and Oak Creek, Wisconsin; Bala Cynwyd, Pennsylvania; Mount Laurel, New Jersey; Cheshire and Berlin, Connecticut; and Kennesaw, Georgia. Nine of the properties were purchased from a public Real Estate Investment Trust (REIT), while the Mount Laurel location was acquired through a separate M&A transaction. The deal includes over 115,000 acres of land where these schools are located.
Fortec financed the deal by contributing $10 million in equity, which was raised through a combination of internal funds and a strategic family office partnership. The remainder of the capital stack was provided by its lender, ORIX USA.
Based in Miami's Brickell Financial District, Fortec is known for turning old buildings into bright, new learning spaces. Previously they turned an old church in Florida into a Montessori school and a former school building in Illinois into The Nest School-Barrington, which now helps around 200 children. This deal expanded Fortec's portfolio with three esteemed educational institution brands: Kids & Company, BrightPath Early Learning & Child Care and Cadence Education.
The deal also means Fortec's footprint reaches across 12 states: Kentucky, Wisconsin, New Jersey and Pennsylvania as well as Georgia, Connecticut, Florida, Illinois, Texas, Massachusetts, Virginia and Washington.
Pablo Barreiro, the chairman of Fortec, said they want to give families across the country access to great early education.
“We are committed to strengthening neighborhoods by investing in facilities that serve as beacons of growth and community pride,” Barreiro said. “We are also proud to complete this landmark acquisition, which not only marks Fortec’s foray into several new high-growth markets, broadening our geographical reach, but also ensures that more families have access to the high-quality educational environments they deserve, regardless of where they live.”
Recognized in 2024 as one of South Florida Business Journal’s fastest-growing private companies, Fortec has built and sold over $200 million worth of early education projects since 2020.
