🠈 Bain Capital 🠊
Bain Capital
Bain Capital was created in 1984 with the goal of applying the ideas of Bain Company to a private equity firm. The principles of the firm are Mitt Romney, T. Coleman Andrews III, and Eric Kriss.
Mitt Romney's father had served as the chairman of GM, the Governor of Michigan and US Secretary of Housing and Urban Development. Mitt Romney became the governor of Massachusetts and 2012 GOP Nominee for the Presidency.
Bain Capital has been involved in numerous mergers and acquisitions. This page lists only transactions that I come across in other research.
- 1984: Bain Capital was founded by T. Coleman Andrews III, Eric Kriss and Mitt Romney—who served as CEO for Bain & Company. The investment firm would invest in firms that received consultation services from Bain and Company.
- 1987: Bain participated in the creation of The Sports Authority which was sold to KMart
- 1998: A group led by Bain Capital acquired Provo-based US Synthetic which creates synthetic diamonds from Castle Harlan for $165 million.
- 1997-2003: Bain acquired a production studio called LIVE Home Video which changed its name to Artisan Entertainment. It was acquired by Lionsgate Home Entertainment in 2003.
- 1997-2004: Bain acquired Sealy Corporation. It sold Sealy to KKR in 2004.
- 1998: Bain acquired 93% of Domino's Pizza for about $1 billion. They took the company public in 2004 with symbol DPZ.
- 2000: Bain establishes Bain Capital Ventures to invest in start ups seeking venture capital support.
- 2000: Bain acquired KB Toys from Consolidated Stores for $305 million. (Bain made back its investment in fees and interest; however KB Toys goes bankrupt):
- 2004: KB filed chapter 11 and closed 600 stores and laid off 3,500.
- 2005: KB emerged from Chapter-11 owned primarily by Prentice Capital Management.
- 2008: KB filed bankruptcy and closed all stores.
- 2002: Fraser Bullock left Bain to establish Sorenson Capital in Provo.
- 2003: Ares Management, Bain Capital and the Ontario Teachers’ Pension Plan "recapitalized" Denver based Samsonite with $103M.
- 2005: Bain acquired CRC Health Group for $720 M.
- 2014-2015: Bain sold CRC to Acadia Health Group for $1.8 billion.
- 2006: Bain Capital and Thomas H. Lee Partners acquire Clear Channel Communications.
- 2010: Bain Capital acquired Air Medical Group Holdings AMHG which was owned by a partnership between Brockway, Moran and Partners and Meridian Venture Capital
- 2015: KKR acquired AMHG from Bain Capital in a deal estimated at $2 billion.
- 2013: Bain Capital acquired an 80% stake in the British Bio Products Laboratory for £230m. They sold it to the Chinese investment firm Creat.
References:
- Wikipedia - Bain Capital (Drawn 12/10/2017)
- Salon - How Mitt Romney's Bain Harvested Sealy Mattress (Drawn 6/5/2018)