M&A Deal Summary

Bain Capital Double Impact Acquires Living Earth

On July 18, 2017, private equity firm Bain Capital Double Impact acquired agriculture company Living Earth from Terra Verde Partners and NGP Energy Technology Partners

Acquisition Highlights
  • This is Bain Capital Double Impact’s 1st transaction in the Agriculture sector.
  • This is Bain Capital Double Impact’s 2nd transaction in the United States.
  • This is Bain Capital Double Impact’s 1st transaction in Texas.

M&A Deal Summary

Date 2017-07-18
Target Living Earth
Sector Agriculture
Buyer(s) Bain Capital Double Impact
Sellers(s) Terra Verde Partners
NGP Energy Technology Partners
Deal Type Secondary Buyout

Target

Living Earth

Dallas, Texas, United States
Living Earth is a manufacturer and provider of mulch, compost, and other landscaping materials in the State of Texas. The Company operates thirteen locations, primarily in the metropolitan areas of Dallas and Houston, selling to commercial contractors and nurseries. Living Earth was founded in 1985 and is based in Dallas, Texas.

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Buyer(S) 1

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 2 of 18
Sector (Agriculture) 1 of 1
Type (Secondary Buyout) 1 of 7
State (Texas) 1 of 2
Country (United States) 2 of 17
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-25 Presence

New York, New York, United States

Presence is a provider of teletherapy and software solutions for special education-related services and behavioral mental health counseling in K-12 schools. The company connects speech-language pathologists, occupational therapists, and behavioral and mental health professionals with students through its proprietary Therapy Essentials software platform, and has delivered more than 3 million teletherapy sessions to hundreds of K-12 schools and districts across the U.S. through its network of over 1,500 certified clinicians. Presence was founded in 2009 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-05 Beatnic

New York, New York, United States

Beatnic is a provider of 100% vegan, 100% delicious food that debuted in New York City in 2015. Beatnic offers a creative plant-based menu of house-made burgers, sandwiches, salads, and baked sweets. A destination for vegans and omnivores alike, Beatnic continues to innovate in the category while staying true to the brand's creative, inclusive, and vibrant core values. Beatnic was founded in 2015 and is based in New York City.

Buy -

Seller(S) 2

SELLER

Terra Verde Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Focused
DESCRIPTION

Terra Verde Partners is a private equity firm focused on investments in the environmental sector. The Firm specifically targets North American manufacturing or service businesses 'with commercially validated technology'. Terra Verde looks to invest $1 to $10 million in businesses with revenues of $5 to $50 million. Terra will consider a variety of transaction types and situations, including buyouts of healthy businesses, non-core divestitures, underperforming companies, consolidations, and growth capital financings. Terra Verde Partners was formed in 2009 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Agriculture) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Living Earth

Dallas, Texas, United States

Living Earth is a manufacturer and provider of mulch, compost, and other landscaping materials in the State of Texas. The Company operates thirteen locations, primarily in the metropolitan areas of Dallas and Houston, selling to commercial contractors and nurseries. Living Earth was founded in 1985 and is based in Dallas, Texas.

Buy -
SELLER

NGP Energy Technology Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Corporate Investor
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

NGP Energy Technology Partners LP (“NGP ETP”) is private equity firm focused the energy sector. The Firm targets buyout and growth capital transactions in sub-sectors spanning alternative energy, energy efficiency, oilfield technology and power. NGP will consider both minority and control investments and looks to invest $5 to $30 million per transaction. NGP Energy Technology Partners is a subsidiary of the NGP Energy Capital Management. NGP Energy Technology Partners was formed in 2005 and is based Washington DC with an additional office in New Orleans.


DEAL STATS #
Overall 12 of 17
Sector (Agriculture) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Texas) 2 of 5
Country (United States) 11 of 16
Year (2017) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 LED Engin

San Jose, California, United States

LED Engin, Inc. is a developer, manufacturer, and seller of advanced LED emitters, optics components and light source modules in a unique, high-lumen density, compact, multi-die package that enable solid-state lighting solutions for a wide range of applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 MS Directional

Conroe, Texas, United States

MS Directional is a provider of directional drilling services in the United States. With operations in most major producing onshore oil and gas basins in the United States, MS Energy provides a comprehensive suite of directional drilling services including directional drilling, downhole performance motors, directional surveying, measurement while drilling ("MWD"), and wireline steering tools. MS Directional was founded in 1980 and is based in Conroe, Texas.

Sell $215M