Bain Capital Invests $250 Million in Chicago-Based Business Services Firm Sikich to Fuel Expansion Plans
Private equity firm Bain Capital has invested $250 million in Chicago-based business services firm Sikich, marking the company’s first outside investment since its founding in 1982. The investment will be used to finance Sikich’s expansion plans and is structured as preferred equity, according to a joint statement from the two companies.
Sikich’s Chief Executive, Christopher Geier, stated that the company has reached an “inflection point” in its growth and that Bain’s involvement will help it take the next steps in its development. 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 data provider PitchBook, suggesting that businesses like Sikich with strong growth potential continue to attract investment interest.
