Page 19 - Bain Capital Double Impact - 2020 Year in Review

35% 17%
Program B Impact Score completions growth improvement, up
to 119
85K 26%
Sponsored learners Revenue enrolled through CAGR B2B channel in 2020
Executed Strong Start: Led management strategy sessions to evaluate and prioritize value creation opportunities. Insights drove company reorganization around industry verticals to accelerate product development and commercial focus.
Scaled Employer-Sponsored Model:
Expanded B2B/employer-sponsored model with a strategic focus on the healthcare vertical. This included new courseware development and, in 2020, Penn Foster launched the Penn Foster Healthcare Careers Institute, showcasing its digital training offerings for frontline healthcare workers.
Recruited Complementary Additions to the Executive Team & Board: Played a key role in recruiting Chief People Officer, Chief Marketing Officer and Chief Technology Officer. We also recruited a world-class independent Board Member with a deep education, operations and policy back- ground.
Launched Impact Advisory Council:
Helped launch an Impact Advisory Coun-
cil, bringing together employees from across the organization to establish and monitor core impact metrics, and identify and execute specific initiatives to further those goals. During BCDI’s ownership
we tied management’s compensation to the achievement of impact metrics that promoted learner access and educational outcomes, thereby further integrating mis- sion into the foundation of the company.
Completed Transformative Acquisition:
In January 2019, helped acquire Ashworth College, an accredited online institution offering degree and certificate programs. This acquisition unlocked significant economic value and strengthened Penn Foster’s competitive positioning among a growing industry of skills development and education companies.
Drove Operational Enhancements: Lever-
aged Bain Capital’s value-added approach
and global network to improve the com-
pany’s underlying capital structure and
operating capabilities. We invested in a new
brand strategy, built strategic partnerships, Bain Capital Double Impact and drove cost efficiencies.
Year in Review – 2020 19
Value Creation
Exit
In November 2020, exited Penn Foster resulting in a highly successful impact and financial return. Notably, the exit included innovative impact covenants in the sale agreement, which mandates Penn Foster sustain its impact commitment moving forward.