Bain Capital

Bain & Company to acquire APAC arm of global venture-building studio Rainmaking

Retrieved on: 
Friday, July 7, 2023
Advanced Innovation Design Approach, Interview, Enterprise Singapore, Agriculture, Bain Capital, I&D, Natural Resources, Acquisition, Corporate venture capital, Engineering, Growth, Bain & Company, The Singapore Economic Review, SGD, SME, Airline, Rainmaking

SINGAPORE, July 6, 2023 /PRNewswire/ -- Bain & Company today announced that it intends to acquire the Asia Pacific arm of global venture-building and start-up development studio, Rainmaking, to help companies across the region better innovate, launch, and scale new businesses. The acquisition is subject to, and contingent upon, several conditions precedent to completion and is expected to close at the end of July 2023.

Key Points: 
  • SINGAPORE, July 6, 2023 /PRNewswire/ -- Bain & Company today announced that it intends to acquire the Asia Pacific arm of global venture-building and start-up development studio, Rainmaking, to help companies across the region better innovate, launch, and scale new businesses.
  • Both Bain and Rainmaking APAC were appointed to participate in the Corporate Venture Launchpad 2.0 program, a SGD 20 million initiative launched by the Singapore Economic Development Board.
  • Rainmaking is also a partner of Enterprise Singapore's Global Innovation Alliance to help more Singapore-based start-ups and tech SMEs access market opportunities in international markets.
  • Rainmaking APAC builds new start-up companies that leverage the advantages and scale strengths of corporate partners and co-founders.

Solenis Completes Acquisition of Diversey for $4.6 Billion

Retrieved on: 
Thursday, July 6, 2023
LLP, Bain Capital, Platinum Equity, BofA Securities, Hygiene, Goldman Sachs, Acquisition, Willkie Farr & Gallagher, Gibson Dunn, Platinum, Renewable energy, Security (finance), Diversey, Solenis

WILMINGTON, Del., July 6, 2023 /PRNewswire/ -- Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology.

Key Points: 
  • With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.
  • Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021.
  • Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of this transaction.
  • Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis.

Solenis Completes Acquisition of Diversey for $4.6 Billion

Retrieved on: 
Wednesday, July 5, 2023
LLP, Bain Capital, Platinum Equity, BofA Securities, Multimedia, Hygiene, Goldman Sachs, Acquisition, Willkie Farr & Gallagher, Gibson Dunn, Platinum, Tissue paper, Renewable energy, Security (finance), Online shopping, Diversey, Solenis

WILMINGTON, Del., July 5, 2023 /PRNewswire/ -- Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology.

Key Points: 
  • With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.
  • Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021.
  • Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of this transaction.
  • Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis.

Surf Internet and MiSignal Join Forces to Expand Fiber-Optic Broadband in Eastern Michigan

Retrieved on: 
Wednesday, July 5, 2023
Digital divide, Internet, Bain Capital, Multimedia, Great Lakes region, Acquisition, Investment, Cable television, Internet service provider, Surf, Howell

Surf has made considerable investments in Livingston County, Michigan, and now with the purchase of MiSignal's fiber-optic broadband network, will significantly expand those efforts.

Key Points: 
  • Surf has made considerable investments in Livingston County, Michigan, and now with the purchase of MiSignal's fiber-optic broadband network, will significantly expand those efforts.
  • MiSignal is a high-speed, fiber-optic internet service provider in eastern Michigan offering symmetrical gigabit internet speeds to residential and commercial customers.
  • All MiSignal team members are joining the Surf Internet team as part of the transaction.
  • Surf Internet provides predominantly fiber-based, high-speed broadband to residential subscribers, businesses, educational institutions, and municipalities across Indiana, Illinois, and Michigan.

NaaS Technology Inc. Receives Non-Trading Confirmation from Bain Capital

Retrieved on: 
Monday, July 3, 2023
Bain Capital, EV, NAAS, Security (finance)

BEIJING, July 3, 2023 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, announced that it received a notification from Bain Capital Rise Education IV Cayman limited and BCPE Nutcracker Cayman, L.P., shareholders of the Company and entities affiliated with Bain Capital, confirming that they will not sell American depositary shares or ordinary shares of the Company into the open market until the Company releases its earnings results for the second quarter of 2023.

Key Points: 
  • BEIJING, July 3, 2023 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, announced that it received a notification from Bain Capital Rise Education IV Cayman limited and BCPE Nutcracker Cayman, L.P., shareholders of the Company and entities affiliated with Bain Capital, confirming that they will not sell American depositary shares or ordinary shares of the Company into the open market until the Company releases its earnings results for the second quarter of 2023.

Ribbon Biolabs Appoints Roopom Banerjee as Executive Chairman

Retrieved on: 
Thursday, June 29, 2023
Biotechnology, Health, Science, Pharmaceutical, Research, DNA, Harvard Kennedy School, US, EU, Therapy, Public policy, MPP, Bain Capital, Harvard University, NGS, Senior advisor, Engineer Research and Development Center, Biomedical Research, Wall Street, CRG, MIT, Jonathan Rothberg, McKinsey & Company, New England Biolabs, Economics, Goldman Sachs, Kennedy School, Ribbon, Nested polymerase chain reaction, Initial public offering, Synthetic biology, PCR, Massachusetts Institute of Technology, Management, Fine chemical, Biology

Ribbon Biolabs, the DNA synthesis company, today announced the appointment of Roopom Banerjee as Executive Chairman of its Board of Directors.

Key Points: 
  • Ribbon Biolabs, the DNA synthesis company, today announced the appointment of Roopom Banerjee as Executive Chairman of its Board of Directors.
  • He brings 25 years of strategy, operations, business development, financial advisory, and investment experience in early and late-stage life science companies to Ribbon Biolabs.
  • "We are delighted to welcome Roopom Banerjee to Ribbon Biolabs as our inaugural Executive Chairman.
  • Ribbon Biolabs is a synthetic biology leader driving DNA synthesis beyond the limits of current technologies.

Aptia, U.S. Employee Benefits and U.K. Pension Administration Business, Launches with Backing from Bain Capital Insurance

Retrieved on: 
Wednesday, June 28, 2023
Professional Services, Insurance, Human Resources, Partnership, Bain Capital, Workplace, Organizational culture, Kirkland & Ellis, MMC, Marsh McLennan, Acquisition, Partner, EY-Parthenon, Growth, U.K. Subs, JLT, Health, NYSE, Management, Financial services

Aptia (or the “Company”), a newly-formed company created by the purchase of the U.S. health and benefits administration and U.K. pension administration businesses of Mercer, a business of Marsh McLennan (NYSE: MMC), today launched with support from Bain Capital Insurance , the dedicated insurance investing unit of Bain Capital.

Key Points: 
  • Aptia (or the “Company”), a newly-formed company created by the purchase of the U.S. health and benefits administration and U.K. pension administration businesses of Mercer, a business of Marsh McLennan (NYSE: MMC), today launched with support from Bain Capital Insurance , the dedicated insurance investing unit of Bain Capital.
  • Aptia will manage a U.S. employee benefits administration platform serving employees and retirees, and one of the largest defined benefit pension administration platforms in the U.K.
  • Previously, he was the CEO of JLT’s global Employee Benefits business where he successfully reoriented the business to achieve significant organic growth.
  • "Aptia will focus exclusively on employee benefits administration and specialist pension administration delivered by experts and enabled by technology.

Intel Agrees to Sell Minority Stake in IMS Nanofabrication Business to Bain Capital

Retrieved on: 
Wednesday, June 21, 2023
Semiconductor, Engineering, Technology, Manufacturing, Nanotechnology, Hardware, Workforce, Partnership, Intel, Acquisition, IMS, Corporation, Sandro Platzgummer, EUV, Growth, Ecosystem, Corporate development, Bain Capital

Intel Corporation today announced that it has agreed to sell an approximately 20% stake in its IMS Nanofabrication GmbH (“IMS”) business to Bain Capital Special Situations (“Bain Capital”), in a transaction that values IMS at approximately $4.3 billion.

Key Points: 
  • Intel Corporation today announced that it has agreed to sell an approximately 20% stake in its IMS Nanofabrication GmbH (“IMS”) business to Bain Capital Special Situations (“Bain Capital”), in a transaction that values IMS at approximately $4.3 billion.
  • IMS will operate as a standalone subsidiary and will continue to be led by CEO Dr. Elmar Platzgummer.
  • Intel initially invested in IMS in 2009 and ultimately acquired the business in 2015.
  • This investment will position IMS to capture the significant market opportunity for multi-beam mask writing tools by accelerating innovation and enabling deeper cross-industry collaboration.

EQS-News: Bain Capital and Rocket Software Support Silver Lake’s Offer and Have Sold all of their Shares to Silver Lake – Silver Lake has now secured 41% of Software AG

Retrieved on: 
Monday, June 19, 2023
Rocket Software, Silver, Software AG, Security (finance), Mining, Bain Capital, Software, Limited

Rocket Software International (UK) Limited, a subsidiary of Rocket Software and portfolio company of Bain Capital, has signed a binding share purchase agreement to sell 7,414,800 shares in Software AG (10.02%) to Silver Lake at the €32 Offer Price.

Key Points: 
  • Rocket Software International (UK) Limited, a subsidiary of Rocket Software and portfolio company of Bain Capital, has signed a binding share purchase agreement to sell 7,414,800 shares in Software AG (10.02%) to Silver Lake at the €32 Offer Price.
  • This constitutes the entirety of shares owned or controlled by Bain Capital / Rocket Software.
  • This constitutes the entirety of shares owned or controlled by Bain Capital / Rocket Software.
  • Silver Lake has now secured 41% of shares, including currently tendered shares.

Bain Capital announces submission of non-binding offer for SoftwareOne Holding AG at CHF 18.50 per share and obtains full commitment from Founding Shareholders

Retrieved on: 
Thursday, June 15, 2023
LLP, Partnership, Bain Capital, Kantar, VWAP, Investment, ExtraHop Networks, Growth, CHF, Security (finance), Engineering

This agreement triggers a shareholder group notification obligation among Bain Capital and the Founding Shareholders.

Key Points: 
  • This agreement triggers a shareholder group notification obligation among Bain Capital and the Founding Shareholders.
  • On 31 May 2023, Bain Capital made a proposal to the Board of Directors of SoftwareOne that envisages a voluntary public all-cash offer at an indicative price of CHF 18.50 per share to take the company private.
  • Bain Capital's proposal was supported by the company's Founding Shareholders, Daniel von Stockar, B. Curti Holding AG and René Gilli.
  • Bain Capital and the Founding Shareholders expect to provide the market with a further update once due diligence access has been granted.