Franchise Times: Lightbridge Academy® Announces New Ownership

According to a recent article in Franchise Times, Westerly Group and Elmsley Capital are now majority owners of the 60-unit early education and child care franchise Lightbridge Academy®. Brian Burke, a managing partner for Elmsley Capital, is joined in this new endeavor by Ross Brendel, a Westerly Group managing partner.

Both were classmates at Harvard Business School, and they have pursued Lightbridge Academy as an “attractive” business opportunity with a “family-oriented” attitude. The deal was closed in mid-June, and Burke identifies current company size, existing management and “a desire to grow through real estate” as motivation for their involvement.

Their approach with Lightbridge Academy is to not “take a COVID haircut,” and to make an instant impact with “no debt on the [Lightbridge Academy] balance sheet.”

They specifically cite their real estate background as an area of instant company benefit. Previous franchising agreements had taken “as long as three years,” and new executive management has expressed a pursuit of business locations that can be “ready to go” for franchisees to open in six months.

Read the full article here.