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Parents and kids’ access to childcare may be threatened by a private equity firm’s takeover of Bright Horizons, the third-largest childcare company in the country.

Bain Capital bought out Bright Horizons earlier this year, turning it into a privately held company. Big financial merger deals like this one may seem routine, but those who receive care from Bright Horizons don’t trust Bain’s reputation.

Bain’s buyout of the retail chain K.B. Toys in 2000 led to the company’s bankruptcy in 2004, causing thousands of layoffs and store closings. Child care providers worry that without transparency or input from the communities it serves, Bain will cut Bright Horizons’ services.

Bright Horizons currently provides health and child care to 70,000 children in the U.S., and more in Australia, Canada, and the U.K.

Although the company is profitable, those against the takeover say private equity firms often transfer debt to the companies they own and then use this debt as an excuse to cut resources or declare bankruptcy.

Demonstrators at Bain’s offices in several cities in July demanded the company remain accountable to Bright Horizons’ customers. They called for community participation in decision-making about services.

The Service Employees have set up a website with an email form where you can tell Bain to make a commitment to childcare. Click on http://www.unionvoice.org/campaign/put_kids_first to put kids before profits. Or call the hotline at 877-730-7196 for more information and to get involved.

Expiration Date:
Tue, 09/30/2008 - 9:59pm