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Bain Capital

Bain Capital

Bain Capital is a Boston-headquartered global alternative investment firm specializing in private equity, venture capital and credit products founded in 1984 by Mitt Romney, T. Coleman Andrews, and Eric Kriss.

Founded in 1984, Bain Capital is a private equity and multi-asset alternative investment firm based in Boston, Massachusetts. The firm prefers to invest in the retail, business service, consumer, financial service, healthcare, energy, technology, media, telecommunication and industrial sectors.

History

The firm was founded in 1984 by partners from the consulting firm Bain & Company. These partners included Mitt Romney, T. Coleman Andrews III, and Eric Kriss. The early Bain Capital team included Fraser Bullock, Robert F. White, Joshua Bekenstein, Adam Kirsch, and Geoffrey S. Renhert. Even though founded by Bain & Company executives, Bain Capital is not an affiliate or division of Bain & Company but rather a separate entity. Bain Capital remains a private, employee-owned company.

The firm, and its actions during its first 15 years, became the subject of political and media scrutiny as a result of co-founder Mitt Romney's later political career, including his 2012 presidential campaign. Mitt Romney served as Bain Capital's first and last CEO. Since his departure, Bain Capital has continued to be run by management committee, lead by Co-Chairman Sephen Pagliuca in 2020.

As of 2018, the firm managed more than $105 billion of investor capital.

Funding and Acquisitions

Since inception, Bain Capital has invested in or acquired hundreds of companies. Their investment approach has extended to include public equity, credit, venture capital, real estate, and cross-asset class opportunities in strategic focus areas. They prefer to organize their investments around funds. The originally venture capital focus of their investments shifted towards a focus on leveraged buyouts and growth capital investments in more mature companies.

One of Bain Capital's early venture investments was in Staples, Inc in 1986. They provided $4.5 million to help executives Leo Kahn and Thomas G. Stemberg open the office supply supermarket in Brighton, Massachusetts. They followed a similar venture capital investment strategy through the remainder of the 1980's until the 1990's. Bain Capital's shift in investment strategy towards a focus on leveraged buyouts and growth capital investments in the early 1990's was exemplified by their acquisition of Ampad from Mead Corporation in 1992. The acquisition saw Ampad grow in sales from $106.7 million in 1992 to $583.9 million in 1996, the same year the company listed on the New York Stock Exchange.

Bain Capital describes their investment approach as consulting-based, intending to develop relationships and partnerships with management teams in order to find insights into long-term value for businesses and markets. And they strive in all investment categories to create impact for their investors, teams, and businesses.

Bain Capital's investments and acquisitions have included:

  • AMC Theatres
  • Artisan Entertainment
  • Aspen Education Group
  • Apex Tool Group
  • Brookstone
  • Burger King
  • Burlington Coat Factory
  • Canada Goose
  • DIC Entertainment
  • Domino's Pizza
  • DoubleClick
  • Dunkin' Donuts
  • D&M Holdings
  • Guitar Center
  • Hospital Corporation of America (HCA)
  • iHeartMedia
  • KB Toys
  • Sealy
  • Sports Authority
  • Staples
  • Toys "R" Us
  • Warner Music Group
  • Fingerhut
  • The Weather Channel
  • Apple Leisure Group
Charitable Organizations

Through the Bain Capital Community Partnership, Bain Capital and its employees strive to make an impact in the communities and neighborhoods where they work and live by supporting a wide array of charitable and nonprofit organizations with their time, expertise and resources. In 1986, Bain Capital employees founded Bain Capital Children's Charity (BCCC) to provide support to causes that benefit youth around the world. Each year, BCCC supports more than 110 organizations worldwide, and has donated more than $50 million to nonprofit organizations since its founding.

Timeline

August 22, 2020
Consolidated Container Company to be Acquired by Bain Capital
August 18, 2020
Bain Capital completed a $1.2 billion deal to buy Japanese nursing home operator Nichiigakkan after fending off a higher, last minute bid from rival Baring Private Equity Asia (BPEA).
August 6, 2020
Aaref Hilaly joins Bain Capital.
July 30, 2020
Bain Capital Agrees to SPAC Deal for Cerevel
July 23, 2020
Bain Capital Credit acquired former Hypo Alpe Adria Bank from the Austrian government, which was the owner through the vehicle HBI-Bundesholding AG.
June 26, 2020
Bain Capital buys Virgin Australia out of administration.
May 21, 2020
Bain Capital Credit Goes Live with Hazeltree Collateral Manager.
May 12, 2020
Zelis backers Parthenon and Bain Capital step in to lead amid CEO departure.
April 27, 2020
Bain Capital said to pass $2 billion for distressed, special situation fund amid Coronavirus deal opportunity.
February 5, 2020
Bain Capital has agreed to acquire a controlling stake in the Italian IT company Engineering Group from funds advised by Apax Partners and Neuberger Berman.
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Acquisitions

Associated investment funds

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Further reading

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Documentaries, videos and podcasts

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Companies

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News

Title
Author
Date
Publisher
Description
Lauren Johnson
May 5, 2021
Business Insider
Insider's top advertising and media stories for May 6.
Patrick Coffee, Sean Czarnecki and Lara O'Reilly
May 5, 2021
Business Insider
Sources said Bain wants to sell noncore assets and focus on data services.
Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch, Ephrat Livni and David Gelles
April 26, 2021
www.nytimes.com
Companies defend stratospheric pay for their leaders.
pulseData
April 21, 2021
www.prnewswire.com:443
/PRNewswire/ -- pulseData, a New York City-based healthcare data science company, focused on predictive algorithms for Chronic Kidney Disease and other chronic...
Sophie Kiderlin
April 21, 2021
markets.businessinsider.com
Various financial firms are also rumoured to be considering a bid for Toshiba aside from Bain Capital. Rival CVC Capital's offer was brushed off this week.
Alex Bitter
April 19, 2021
Business Insider
Bain Double Impact's Cecilia Chao has been looking for an investment in the natural consumer goods world for years. But Hand In Hand stood out.
Jasper Jolly
April 7, 2021
the Guardian
Mutual insurer showed a 'cavalier attitude', according to a parliamentary report with cross-party backing
Joao-Pierre S. Ruth Senior Writer
March 25, 2021
InformationWeek
Managing director with private investment firm discusses opportunities that may emerge as cloud matures.
Liya Su
March 22, 2021
DealStreetAsia
The latest round brings the total corpus bagged by Newlink Group in 2021 to as much as $300 million.
Michael O'Leary
March 4, 2021
Harvard Business Review
Companies aren't holding themselves accountable. Their stakeholders must.
Sarah Butler
February 7, 2021
the Guardian
Members and policyholders have yet to receive full details of potential £530m sale to Bain Capital
IANS
December 22, 2020
@bsindia
Reliance Capitals expression of interest for asset monetisation garnered mega response with 60 bids being received
Swaraj Singh Dhanjal
December 9, 2020
DealStreetAsia
The asset monetization process is being managed by SBI Caps and JM Financial Services.
Dan DeFrancesco
December 7, 2020
Business Insider
The top finance stories for December 7, including the latest news on the breakout stars at $5.3 billion Plaid.
Dev Chatterjee
December 2, 2020
@bsindia
Oaktree, JC Flowers, 6 others submit EoIs for entire company
Nassim Khadem
December 2, 2020
www.abc.net.au
About 6,000 workers at Virgin Australia will be asked to vote on a new workplace enterprise agreement that would see their pay frozen for 18 months to two years as the airline struggles to recover from the coronavirus pandemic.
IANS
December 2, 2020
@bsindia
Over eight bidders have bid for entire assets on as-is-where-is basis.
Dan DeFrancesco
November 25, 2020
Business Insider
The top finance stories for November 25, including the latest news on BlackRock's desire to get into customized index funds.
The Freedonia Group
November 18, 2020
www.prnewswire.com:443
/PRNewswire/ -- Bain Capital, a leading US private equity firm, announced that it had purchased a majority stake in US LBM, a key US building materials...
Nassim Khadem
November 18, 2020
www.abc.net.au
A revamped Virgin Australia will target the mid-market, says new CEO Jayne Hrdlicka. She's promised no nasty changes to its Velocity Frequent Flyer program for its 10 million members but its business class offering, in-flight WiFi and entertainment are under review.
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