Santander and Apiary Capital led the management buyout of Bertrand Nursery Group, one of the UK’s largest children’s nursery groups. Rockpool Investments, who provided growth capital to Bertram in December 2014, is exiting the group as part of the transaction. Financial terms were not disclosed. Jeniv Shah, Investment Director at Apiary Capital, said: “Cary and his team have impressed us with their commitment to delivering outstanding quality of care and education. We are looking forward to supporting them as they continue to develop the Group’s existing nurseries as well as expanding Bertram’s footprint through further acquisitions. We would like to thank Graeme and Tom for their involvement in securing our investment and wish them well in their future plans.”