Ropes & Gray advised Bain Capital Double Impact in its sale of Penn Foster, a digital learning platform, to BayPine and Two Sigma Impact. Terms of the transaction were not disclosed. The press release is here.
Bain Capital Double Impact is the impact investing unit of Bain Capital. Penn Foster partners with major employers, public workforce agencies, and community-based organizations to deliver skill-based training for more than 300,000 working learners each year.
The Ropes & Gray team that represented Bain Capital Double Impact was led by private equity partner Charles Boer and included private equity partner R. Newcomb Stillwell, employment, executive compensation & benefits partners Jennifer Rikoski and Jennifer Cormier, and tax partner Amanda Holt (all of Boston).
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