Kinder Holding Corp history

The company began as Kinder-Care Nursery Schools, and the first facility was opened on July 14, 1969.

Unlike such popular chains, however, Kinder-Care discontinued the idea of franchising in 1970, when Mendel determined that most people interested in the child care business lacked the expertise or were unable to arrange the financing.

By 1971, 19 centers were in operation, the first infant care was offered, and the company had extended its services to include transportation for those school-aged who needed it, via rented Volkswagen vans.

Expansion of the centers continued apace, as the company went public in 1972.

Growth prompted the company to divide its operations into six geographical regions, managed by regional directors, in 1975.

The company's first major acquisition came in 1977, when it purchased the 15 facilities of Playcare.

In 1979, as Kinder-Care celebrated its tenth anniversary, three more major acquisitions took place: Mini-Skools, Living and Learning, and American Pre-Schools.

In 1982 the company relocated its headquarters to Lakewood, Colorado, and a year later became known as KN Energy Inc., drawing on the first letters of Kansas and Nebraska to create its name.

Florida Gas was then sold to Houston Natural Gas in 1984, and the following year Houston Natural Gas merged with InterNorth to create Enron, which was headed by Lay.

In 1985, Kinder-Care opened its 1,000th center.

In 1987, Kinder-Care was reporting annual revenues of $900 million, and analysts were remarking on the company's rapid growth, observing that stock had soared from 12 cents a share to $20 at its high in mid-1987.

While some of the money was used to expand the child care centers, much of it was used to make further investments, and following some initial pay-offs from the plan, the company found itself in deep financial trouble, particularly after the stock market crash in October 1987. As a result, the company's debt load increased from $10 million to about $620 million in 1988.

Next, Mendel and Grassgreen accepted a 1989 offer from the Lodestar Group, a New York investment banking firm, for a rights offering, in which shareholders would generate new equity capital through their purchase of Kinder-Care stock from Enstar at a discount price.

However, still faltering under its high debt load, KinderCare filed for Chapter 11 bankruptcy protection on November 10, 1992.

The company continued operating, and in January 1993, in a move that may have helped bring new life to their balance sheet, KinderCare sold off Sylvan Learning Centers for $8 million.

By 1994, KinderCare was preparing to open its first center in the United Kingdom and expected to open five to seven more centers within the next two years.

First Major Acquisition: 1997

In June 1998 KMP acquired a 24 percent interest in Plantation Pipe Line, paying $110 million to Equilon.

Merging of KN Energy and KMI: 1999

In December 2000 KMP began adding external businesses.

2001: Kinder Morgan Management, LLC (NYSE: KMR), a third publicly traded Kinder Morgan company, is formed to facilitate the institutional ownership of KMP equity and its only significant assets are the partnership units it owns in KMP.

2013: In May, KMP completes an approximately $5 billion acquisition of Copano Energy, which enables the company to significantly expand its midstream services footprint and offer a wider array of services to its customers.

2018: In August, the Government of Canada indirectly acquires the Trans Mountain Pipeline System and the Trans Mountain Expansion Project from KML through the Trans Mountain Corporation (a subsidiary of the Canada Development Investment Corporation) for a cash consideration of $4.5 billion.