Norlandia Care Group has acquired 59% of the shares of Tenava, the leading preschool operator in Finland. Norlandia has an option to purchase the remainder of the shares by 2017.
Both Tenava and Norlandia see opportunities for substantial growth in the years ahead in the Finnish market. Currently 40% of children in the relevant age groups are in home daycare. There is political and societal pressure to have greater worklife participation among young mothers. There is therefore a general expectation that the proportion of children in preschools will increase.
Tenava has 1800 children and 350 employees at its 30 locations in the capital area, Jyväskylä area, Akaa and Hämeenlinna. It is the largest privately held daycare company in Finland and has been in operation since 1994.
