Page 18 - Bain Capital Double Impact - 2020 Year in Review
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  Case Study: Penn Foster
Sustaining Impact at Exit
Education and Workforce Development
Skilled labor shortages are challenging companies and their abilities to meet customer demands. Furthermore, investments in training and development enhance employee career opportunities while also improving productivity and retention. Lastly, there is an increasing emphasis on skills, not degrees, with widening acceptance of remote and work- based training as education delivery models.
Bain Capital Double Impact’s (“BCDI”) thematic focus on education and workforce development identified Penn Foster, the nation’s leading skills development company with roots dating back to 1890. The values of improving access to affordable education, enhancing economic mobility and preparing learners for in-demand professions are foundational to BCDI’s and to Penn Foster’s innovative models.
Deal Making
In April 2018 BCDI led a syndicate of
impact-aligned investors to acquire a controlling interest in Penn Foster. Penn Foster was seeking a partner aligned to its vision and mission, with the capabilities to help support its strategic plan for growth.
“An increasingly dynamic labor market is creating unprecedented complexity for both job-seekers and incumbent workers. Bain Capital Double Impact understands both the strategic and social imperatives that inform our work – together, we’re on a mission to empower individuals with the knowledge, skills and confidence to improve their employability and earning potential.” - Frank Britt, Penn Foster CEO, May 2018.
18 Bain Capital Double Impact Year in Review – 2020

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