M&A Deal Summary

Bain Capital Double Impact Acquires Meteor

On March 1, 2023, private equity firm Bain Capital Double Impact acquired education company Meteor from Saw Mill Capital

Acquisition Highlights
  • This is Bain Capital Double Impact’s 1st transaction in the Education sector.
  • This is Bain Capital Double Impact’s 15th transaction in the United States.
  • This is Bain Capital Double Impact’s 1st transaction in Florida.

M&A Deal Summary
Date 2023-03-01
Target Meteor
Sector Education
Buyer(s) Bain Capital Double Impact
Sellers(s) Saw Mill Capital
Deal Type Secondary Buyout

Target

Meteor

Gainesville, Florida, United States
website
Meteor is a mission-focused company committed to accelerated engagement and transformed learning experiences for educators, students, and communities. The company has helped more than 1,000 K-12 school districts design and create high-impact prosocial learning environments that promote collaborative educational experiences. It focuses on integrating best practices for teaching and learning that successfully foster modern learning environments and increase student achievement. Meteor Education was founded in 1967 and is based in Gainesville, Florida.

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Buyer(S) 1

Buyer

Bain Capital Double Impact

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

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.

DEAL STATS #
Overall 16 of 17
Sector (Education) 1 of 1
Type (Secondary Buyout) 5 of 6
State (Florida) 1 of 1
Country (United States) 15 of 16
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-26 AqueoUS Vets

Redding, California, United States

AqueoUS Vets is a provider and servicer of water treatment systems that address long-standing and emerging contaminants in the U.S. water infrastructure. The Company offers a turnkey approach to building, installing, and servicing custom water treatment systems that leverage advanced design technology and ensure long-term operational reliability. AV currently treats an estimated 168 million gallons per day for local, state, and federal government entities with more than 290 million gallons per day of treatment capacity in production, including the Los Angeles Department of Water & Power, Orange County Water District, and the City of Anaheim in California, as well as private industrial and commercial customers. AqueoUS Vets was founded in 2015 and is based in Redding, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 Sparq

Atlanta, Georgia, United States

Sparq is a provider of outsourced digital engineering to build, deploy and support digital applications, products, and experiences. The company's U.S.-centric, 100% remote delivery model accesses untapped and underleveraged technology talent and eliminates the obstacles of distant time zones, language, and geopolitical risks. Scrum-as-a-Service, Sparq’s engagement framework for Agile software engineering, provides rapid and flexible deployment of multidisciplinary teams via an elastic consumption model and predictable monthly pricing. It provides solutions for technology-driven and Fortune 1000 clients across various industries including Logistics and Transportation, Healthcare, High-Tech, and Financial Services. Sparq was founded in 2004 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

Saw Mill Capital

Briarcliff Manor, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 610M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Saw Mill Capital is a private equity firm focused on middle-market company acquisitions valued up to $200 million. Saw Mill prefers businesses with defensible market positions, solid growth prospects, and historical cash-flow. Sectors of interest include manufacturing, specialty distribution, and service. Saw Mill looks to commit between $15 and $75 million per transaction in companies with at least $3 million of EBITDA. Saw Mill will not invest in retail, healthcare services, media/telecom, information technology, financial services, personnel based services, apparel or businesses driven by fad or fashion. Saw Mill Capital was formed in 1997 and is based in Briarcliff Manor, New York.

DEAL STATS #
Overall 14 of 14
Sector (Education) 1 of 1
Type (Secondary Buyout) 8 of 8
State (Florida) 2 of 2
Country (United States) 13 of 13
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-21 Rasa Floors

Carrollton, Texas, United States

Rasa Floors is a flooring installation provider serving both repair and renovation and new construction applications, with a focus on the multi-family market. The Company offers a full suite of flooring solutions to multi-family property managers and property management companies across the Southeast and Southwest. Rasa Floors was formed in 1994 and is based in Carrollton, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-22 SMC Roofing Solutions

Delaware, United States

SMC Roofing Solutions is a multi-regional, residential re-roofing platform focused predominantly on insurance-claim demand. Its companies use a differentiated direct-to-consumer selling model to provide homeowners with roofing replacement and maintenance services.

Buy -
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