In a major development for business services firm Sikich, Bain Capital has acquired a minority stake worth $250 million. The investment, which is structured as preferred equity, will be used to finance Sikich’s expansion plans and marks the first outside investment in the Chicago-based company since its founding in 1982.
The $250 million investment comes as Sikich’s Chief Executive, Christopher Geier, stated that the company has reached an “inflection point” in its growth. With more than 2,000 employees operating across the U.S. and internationally, Sikich offers services such as auditing, managing employee programs, and succession planning. Bain Capital Special Situations’ partner, Cristian Jitianu, highlighted Sikich’s success in gaining market share in a fragmented market.
Despite a decrease in large leveraged buyout volumes in recent years, growth equity investments by private equity firms have remained at healthy levels, according to a report from data provider PitchBook. This trend suggests that businesses like Sikich with strong growth potential continue to attract investment interest. With Bain Capital on board as a strategic partner, Sikich is well positioned to take the next steps in its development and achieve even greater success.
