children playing

Private equity willing to help fix broken childcare system if there’s a buck in it for them

Printer-friendly versionSend by emailPDF version
Author: 
Parker, Errol
Format: 
Article
Publication Date: 
7 Jul 2025
AVAILABILITY

Excerpts 

A Diamantina-based private equity firm has admitted that they’d be willing to help fix the broken and unfair childcare system is there was a pathway to extreme profitability down the track.

In 2005, the Betoota City Council sold off their 10 Betoota Nursery Care (BNC) long daycare facilities to private equity firm Mann Capital. It ended over a century of publicly-owned childcare facilities in the inner suburbs of our once vibrant and thriving desert community.

...

“We take businesses that are unprofitable or weighed down with a lot of rot, we gut them, and then we ramp up revenue and profit, then punt them. It’s just how money is made, you know. That’s just the reality of the system that we are presented with, as investors,”

“You voted for this. You voted for repeated privatisation of essentially every service in Queensland and the Commonwealth. How do you think Queensland is going to pay for the Olympic Games? By privatising your hospital and education sectors,”

“So while it’s a shame that the daycare system is so unbelievably cooked, we didn’t make it. We just thrive in it.”