Nobel Learning Communities Inc., West Chester, today said it agreed to buy private-preschool operator Enchanted Care Learning Centers Inc. for $15 million.
Enchanted Care runs nine preschools and six before- and after-school and camp facilities in the Columbus, Ohio, area. It expects 2007 revenue of $12 million.
With the acquisition, publicly traded Nobel will operate a total of 169 schools, plus Enchanted Care's six before- and after-school facilities in 14 states.
The deal announced today is expected to close within 60 days, Nobel said.
Nobel shares were up 48 cents, or 3.8 percent, to $13.12 in midday Nasdaq trading.