Bain Capital Double Impact Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Bain Capital Double Impact has acquired 2 companies. It has also invested in 1 other.

Bain Capital Double Impact’s most common sectors for investment arehealthcare services (28%) and internet software and services (17%) . The Firm’s most common investment types include growth capital (39%) and secondary buyout (39%). In total, Bain Capital Double Impact has invested in 11 US states and 2 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired athenahealth for $17.0B.

In the last 3 years, Bain Capital Double Impact has exited 3 companies. The Firm’s most common exit type is secondary buyout (100%).

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity17
    • M&A Sell Activity3
  • Total Sectors Invested 10
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 6
  • M&A Advisors 4

Bain Capital Double Impact

Bain Capital Double Impact

200 Clarendon Street,
Boston, Massachusetts 02116
United States
(617) 516-2000
www.baincapitaldoubleimpact.com
doubleImpact@baincapital.com

Bain Capital Double Impact is the social and wellness investment arm of Bain Capital. The Firm looks to invest in mission-driven companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Consumer Products, Consumer Services, Healthcare Services, Internet Software and Services

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.6/yr) # 9 6 1 1 - - 17
vol $17.0B $17.0B
Sell (0.6/yr) # - - - 2 1 - 3
  20

Most Recent M&A

Company Date Value Type
TeachTown, Inc. 2024-07-04 - Secondary Sale
Woburn, Massachusetts · www.teachtown.com
HealthDrive Corp. 2023-08-22 - Secondary Sale
Framingham, Massachusetts · www.healthdrive.com
Sparq Holdings, Inc. 2023-06-21 - Secondary Sale
Atlanta, Georgia · www.teamsparq.com
Meteor Education LLC 2023-03-01 - Secondary Buyout
Gainesville, Florida · www.meteoreducation.com
AqueoUS Vets 2022-01-26 - Growth Capital
Redding, California · www.aqueousvets.com
athenahealth, Inc. 2021-11-22 17.0B USD Secondary Buyout
Boston, Massachusetts · www.athenahealth.com
ConvenientMD Urgent Care 2021-05-12 - Secondary Buyout
Portsmouth, New Hampshire · www.convenientmd.com
Excelsia Injury Care 2021-01-25 - Growth Capital
Baltimore, Maryland · www.multi-specialty.com
TeachTown, Inc. 2021-01-12 - Growth Capital
Woburn, Massachusetts · www.teachtown.com
Japan Wind Development Co. Ltd. 2021-01-01 - Buyout (LBO, MBO, MBI)
Tokyo, Japan · www.jwd.co.jp
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
athenahealth, Inc. 2021-11-22 Quatris Healthco 2022-12-29 1
Boston, Massachusetts · www.athenahealth.com Bedford, Texas · www.athenahealth.com/quatris-healthco
Penn Foster 2018-05-01 Career Step LLC 2021-10-13 3
Scranton, Pennsylvania · www.pennfoster.edu Lehi, Utah · www.careerstep.com
Penn Foster 2018-05-01 Ashworth College 2019-02-06 2
Scranton, Pennsylvania · www.pennfoster.edu Norcross, Georgia · www.ashworthcollege.edu

M&A by Sector

Sector Current # Value All-time # Value
Healthcare Services 4 (27%) - 5 (28%) -
Internet Software and Services 2 (13%) 17.0B (100%) 3 (17%) 17.0B (100%)
Education 2 (13%) - 2 (11%) -
Information Technology 1 (7%) - 2 (11%) -
Agriculture 1 (7%) - 1 (6%) -
Consumer Products 1 (7%) - 1 (6%) -
Consumer Services 1 (7%) - 1 (6%) -
Renewable Energy 1 (7%) - 1 (6%) -
Restaurants 1 (7%) - 1 (6%) -
Utilities 1 (7%) - 1 (6%) -
Total 15 $17.0B 18 $17.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (93%) 17.0B (100%) 17 (94%) 17.0B (100%)
  Massachusetts 1 (7%) 17.0B (100%) 3 (17%) 17.0B (100%)
  California 2 (13%) - 2 (11%) -
  Texas 2 (13%) - 2 (11%) -
  New York 2 (13%) - 2 (11%) -
  Georgia 1 (7%) - 2 (11%) -
  Maryland 1 (7%) - 1 (6%) -
  Florida 1 (7%) - 1 (6%) -
  Pennsylvania 1 (7%) - 1 (6%) -
  North Carolina 1 (7%) - 1 (6%) -
  New Hampshire 1 (7%) - 1 (6%) -
  Nebraska 1 (7%) - 1 (6%) -
Japan 1 (7%) - 1 (6%) -
Total 15 $17.0B 18 $17.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 6 (40%) 17.0B (100%) 7 (39%) 17.0B (100%)
Growth Capital 6 (40%) - 7 (39%) -
Buyout (LBO, MBO, MBI) 2 (13%) - 3 (17%) -
Venture 1 (7%) - 1 (6%) -
Total 15 $17.0B 18 $17.0B

Exits by Deal Type

Type Total # Value
Secondary Sale 3 (100%) -
Total 3 -

Top M&A Advisors

Legal Deals
Kirkland & Ellis
2
Dykema Gossett
1
Goodwin Procter
1

Deal Values

buy # Total
> $1B 1 $17.0B
TOTAL $17.0B
Largest athenahealth, Inc.
$17.0B (2021-11-22)

M&A Connections

Deals
Acquired from
Investor(s)
39%
7 (39%)
Exited to
Investor(s)
100%
3 (100%)

FAQ

What type of investor is Bain Capital Double Impact?

Bain Capital Double Impact is a private equity firm.

Where is Bain Capital Double Impact headquartered?

Bain Capital Double Impact is headquartered in Boston, Massachusetts.

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