Foresight acquires Scottish nursery group Pinocchio’s

• Leading childcare provider operating five settings in Scotland
• Pinocchio’s has an excellent reputation for quality care and education
• Strategic acquisitions are planned to expand the number of settings across the country
• One of three investments in the sector made by Foresight Group over the last two years

Foresight Group (“Foresight”) has announced the investment into Pinocchio’s Childrens Nurseries Limited (“Pinocchio’s” or the “Company”), a leading nursery group in Scotland.

Founded in 1997 by Stratos and Lewissa Koulis, Pinocchio’s operates five day nurseries across Edinburgh and Midlothian. The Company cares for approximately 360 children and employs over 110 staff, serving families throughout both regions. Known for its strong commitment to quality and innovation, Pinocchio’s has received multiple industry awards and has built an outstanding reputation for excellence in early years education for nearly three decades.

Katrina Weir, Operational Director, brings more than 30 years of childcare experience and has been with Pinocchio’s for ten years. She will remain in her role. As part of the investment, Katrina will be supported by Steve Thomas and Julian Drinkall, who will co‑invest alongside Foresight. Steve will join Pinocchio’s as Chief Financial Officer and Julian as Non-Executive Chair. Both Steve and Julian have significant experience in the day nurseries sector. Steve is an experienced CFO with over 25 years of experience and previously worked as CFO of Bright Stars. Julian served on the board of Kindred Nurseries for five years, during which the business expanded from 10 to more than 40 settings before an exit to a mid-market private equity firm in November 2024.

Lewissa Koulis, Co-Founder of Pinocchio’s, said: "We would like to thank all our families over the last 29 years for their trust in our nursery teams and our employees for all their hard work and commitment to deliver the very best childcare and education to the children in our care. Foresight shares our vision and brings the expertise and resources needed to help Pinocchio’s grow while preserving the quality and values that have defined the business."

Katrina Weir, Operational Director at Pinocchio’s, commented: “This investment marks an exciting milestone for Pinocchio’s. Our focus will remain on delivering exceptional care while expanding our reach to more families. I’m looking forward to working with our new partners to support sustainable, high‑quality growth.”

Duncan Thorburn, Investment Manager at Foresight Group, commented: “Pinocchio’s is a high‑quality operator with a strong reputation, committed team and a clear opportunity to grow. We are delighted to support the next phase of expansion and help build on the excellent foundations already in place.”

To date, Foresight has invested over £60 million into growing companies in Scotland across all sectors and transaction types, which has created over 170 local high quality jobs. Our recent investments include Welding Engineers, Mclaggan + Co, Graham & Sibbald, MyWay Digital Health and uFraction8.