Solutions
Impact Strategy

Case Study

Dental floss, fast food packaging, water-repellent apparel, non-stick cookware and unfortunately our own drinking water. These are just a few of the common ways that Americans are exposed to per- and polyfluoroalkyl substances (PFAS), also known as “forever chemicals”, which can take 4-15 years to reduce by half in the human body and centuries to disappear from the environment.

The impact of PFAS is deep and broad in the U.S. - it impacts an estimated 99% of Americans, according to The Environmental Working Group. Nearly ~110 million Americans use PFAS- contaminated water every day and more than 700 contaminated sites have been identified nationwide. High concentrations of PFAS are linked to scores of health concerns including testicular, kidney, liver and pancreatic cancers. Unfortunately, low-income and underserved communities have been found to have a higher degree of PFAS contaminants than their higher-income counterparts, compounding the problem and highlighting systemic inequality in the way these issues are regulated.

AqueoUS Vets is working to provide clean drinking water to all by addressing long-standing and emerging contaminants in the U.S. water infrastructure, such as PFAS, with an array of effective water treatment solutions. The company offers a turnkey approach including the design, manufacturing, installation, commissioning, and ongoing service of custom water treatment systems that leverage advanced design technology and ensure long-term operational reliability. AV currently treats an estimated 168 million gallons per day for local, state, and federal government entities with more than 290 million gallons per day of treatment capacity in production, including the Los Angeles Department of Water & Power, Orange County Water District, and the city of Orange, NJ, and Marzana, AZ as well as private industrial and commercial customers.

Two Examples

Orange County Water District

Problem: Found to have perfluorooctanoic acid (PFOA) and perfluorooctanoic sulfonate (PFOS) at levels exceeding advisory levels in the Orange County Groundwater Basin, which provides 77 percent of total water supply throughout the district.

AV Solution: OCWD, working with the Yorba Linda Water District, moved swiftly to protect its residents and selected AqueoUS Vets® (AV®) to build 27 LowPro™ ion exchange (IX) resin systems for PFAS treatment. AV® provided design assistance, manufactured and delivered a solution capable of treating up to 25 million gallons per day, making it the largest IX PFAS treatment plant in the nation.

Town of Marana, Arizona

Problem: The Marana water system was found to contain the unregulated compounds PFAS and 1,4-dioxane.

AV SSolution: As a proactive measure to protect the community from adverse effects associated with chemical water contaminants, AV worked with local contractors and engineers to build two water treatment plants that began operating on March 12, 2021, staying on track despite challenges from the pandemic. Sampling results of the water introduced into the respective systems from both treatment facilities revealed successful removal of both of these nonregulated compounds.

Mission Statement

To attract, train, retain and treasure the best professionals and create superior models of care that reach the greatest number of clients

Case Study

Randi Israel oversees dozens of caregivers on any given day in her role as a Lifecare Manager at Arosa. She provides initial client assessments, assists with the client matching process, and is “a phone call away” for any and all issues. It's a far different approach than when she started in home care - a time when caregivers did not have many resources and client care was often inconsistent. While the overall industry has become professionalized, Randi believes Arosa is leading the way in personalized care management that achieves better outcomes for both caregivers and clients.

Along with cutting-edge resources and the encouragement to obtain professional certifications, the Arosa culture of cohesiveness, mutual respect, and appreciation among all team members sets the company apart. It is also what keeps Randi and her teammates motivated. “It is challenging work, but all of the different teams here support and appreciate one another, and that goes a long way. We really value our caregivers, and that's why we're able to do what we do.”

Randi believes the work will only continue to improve. She points to the leadership of Arosa for building up a team of top-level care managers, empowered caregivers, clients who receive a complete assessment of their needs, and a supportive and mindful staffing team.

Randi continues to be inspired by the work of the caregivers and clients she oversees daily. “I'm amazed and in awe of the work of our caregivers, and its heartwarming to see clients receive the care they deserve.”

Mission Statement

Leading provider of cloud-based enterprise software solutions for medical groups and health systems nationwide creating more efficient office operations and allowing doctors to spend more time with patients.

Case Study

Athenahealth partners with more than 140,000 ambulatory care providers, throughout all 50 states and across more than 120 specialties, to accelerate the pace of healthcare innovation and support the delivery of leading clinical and financial outcomes. athenahealth's solutions and services enable its customers to increase clinical efficiency, optimize financial performance, improve patient care outcomes, and support providers in accelerating their shift toward value-based care.

The Company's athenaOne cloud platform addresses the critical aspects of a physician's practice - with modules spanning patient engagement, revenue cycle, telehealth, payments, population health, and value-based care management. athenahealth delivers this suite of capabilities to customers by combining powerful SaaS technology with the expert services and data-driven insights that come from the country's largest single connected network.

Mission Statement

To make plant-based foods accessible to people in the communities Beatnic serves, and to promote the environmental benefits of plant-based eating to key stakeholders including employees, customers and the general public

Case Study

This past year, Beatnic launched three new menu items featuring Chicky, their first plant-based-chicken offering.

Infusing the new offering with its company values, Beatnic unveiled the Eat More Chicky campaign, pushing the boundaries of typical food marketing and celebrating inclusivity.

The campaign featured drag queen West Dakota as the face of the promotion. With social media content and wall postings across trendy neighborhoods in New York City, Beatnic showcased that plant-based food is for everyone and their doors are open to anyone, regardless of gender, race, beliefs, or diet. The campaign was an instant hit, with local and national press coverage, as well as viral exposure on Instagram and other social channels.

Mission Statement

Operator of consistently branded urgent care clinics located in underserved markets throughout the Northeast often acting as the initial healthcare access point for patients.

Case Study

Access to quality healthcare is a major concern across rural areas in the U.S. including northern New England — where rising costs, dispersed populations and constrained medical labor pools threaten the supply and stability of hospitals, primary care, and other healthcare infrastructure. The result is a lack of treatment, poor health outcomes, and constantly rising cost pressure.

ConvenientMD is at the forefront of combating this trend by bringing high quality, accessible and affordable care to communities throughout New England. ConvenientMD offers a wide array of services ranging from the treatment of common illness and flu shots to broken bones and lacerations, all in modern and conveniently located clinics. Further, the Company offers virtual on-demand care, in-person care seven days a week, ensuring patients access to treatment where and when they need it most. With this differentiated approach, ConvenientMD has quickly grown to be the largest urgent care provider in New Hampshire and Maine and proved that communities such as Littleton, NH with less than 10,000 residents, can support a thriving clinic.

ConvenientMD also plays a key role in mitigating rising healthcare costs. In many communities, ConvenientMD is the only alternative to hospital Emergency Departments, where the cost of treatment can cost 5-7x more. Through its advanced clinical and operational capabilities as well as the ability to attract and retain highly skilled physicians and medical professionals, ConvenientMD can provide the same quality care, on demand, at a fraction of the cost of leading hospital systems. In fact they have saved patients in New England well over $1.5 billion in healthcare costs since they opened in 2012. As a result, ConvenientMD is uniquely positioned as a valued partner to insurance companies, employers and patients.

ConvenientMD's management and Bain Capital Double Impact are closely aligned on continuing to open clinics in underserved markets as well as develop innovative ways to make care more convenient and more affordable for all. Gareth Dickens, Chairman & CEO said “Bain Capital Double Impact shares our passion for continuing to find innovate ways to provide exceptional care to more people in the community. We are thrilled to have a mission-driven partner as we seek to extend our impact and market leadership in New England and beyond”.

Mission Statement

We believe the products that get us exploring can make a positive impact in other people's lives. That's why we create sustainably designed outdoor gear that fuels both adventure and global change, by dedicating a percentage of our revenues to nonprofits working to improve the human condition.

Case Study

We believe the products that get us exploring can make a positive impact in other people's lives. That's why we create sustainably designed outdoor gear that fuels both adventure and global change, by dedicating a percentage of our revenues to nonprofits working to improve the human condition.

Since its founding, Cotopaxi has piloted new ways of producing functional products using sustainable principles and materials that reduce as much waste as possible. Currently, 94% of products contain repurposed, recycled, or responsible materials—or what it calls the Three R's - and by 2025, they hope to make 100% of products using those materials.

• (Re)Purpose: Cotopaxi's (Re)Purpose™ collection uses remnant fabric, which is fabric leftover from other companies’ larger production runs. For example, Cotopaxi's signature Del Día bags are made of unused, high-quality nylon that would have otherwise ended up in a landfill—uniquely reassembled and given new life. To date, the company estimates it has used 800,000 yards of remnant fabric for its Del Día program.
• Recycled: Cotopaxi prioritizes recycled fabrics in its design processes, which limits dependence on fossil fuels for sourcing raw materials and reduces landfill usage. In 2021, Cotopaxi produced nearly 220,000 items made from recycled materials, including its popular Teca, Mira, Solazo and Trico jackets.
• Responsible: To qualify as a "responsible" product at Cotopaxi, that item or material must carry a third-party sustainability designation such as Fair Trade Certification, Responsible Down Standards or Global Organic Textile Standard. Cotopaxi is constantly seeking new ways to design products in a more sustainable way and looks to partner with credible certifications and collaborators. In 2021, Cotopaxi produced nearly responsibly certified 14,000 items.

However, in the fashion and clothing industries, a commitment to environmental sustainability alone is not enough. Unfortunately, human rights abuses – poor or unsafe working conditions, forced or child labor, low wages, and stagnant career growth - are rampant in the fashion and clothing industries. Cotopaxi is committed to addressing these issues at all levels of the supply chain through alignment with the UN Global Compact and UN Principles of Responsible Business and in 2021, the company adopted the Ethical Trading Initiatives’ Guide to Better Buying. Each of Cotopaxi’s partner factories agrees to a rigorous code of conduct, completes an anonymous audit and employee survey, and commits to fair labor practices. Finally, Cotopaxi provides direct grants to workers in cut-and-sew factories to empower their career development and wellbeing.

Cotopaxi's holistic approach to supply chain sustainability that focuses on promoting positive labor practices around the world and designing products using the Three R's can serve as a model for the apparel and gear industries, where human rights abuses and material waste are abundant.

Mission Statement

To elevate health outcomes and improve quality of life by bringing vital on-site healthcare to our patients

Case Study

The HealthDrive team believes that their patients' mental health matters as much as their physical health. They took a major step forward through the acquisition of New England Geriatrics, which has allowed them to expand their services into behavioral health.

Kayla Wichowski, Clinical Training Specialist, is part of the behavioral health team and sees the immense benefit of an integrated care solution. “The care industry is moving, and HealthDrive is ahead of the curve,” she said. “We can now work directly with our colleagues in other disciplines, share advice and guidance, and our patients have the benefit of seeing who they need when they need to see them.”

She views the other services provided by HealthDrive as complementary to her own work. “Psychiatrics is about care and comfort; if a patient seems distressed, it is not always a mental health issue. I can turn to other clinicians to make sure that dentistry, optometry, or another part of care is a component of the solution, especially with some of our older patients.” Addressing vision or hearing challenges frequently improves social interactions and relationships that can further improve overall quality of life.

Kayla acknowledges that challenges remain within the industry, but she is grateful to be doing the work that she does.

“Long-term care facilities are very much like going into someone's home to improve their quality of life, and it's why I love what I do. These facilities are underserved in a lot of ways, and I'm happy to be a part of a team that is working every day to fix it.”

Mission Statement

To empower early childhood educators with affordable tools that enable them to improve developmental outcomes for the children they work with while educating parents about the importance of their work.

Case Study

COVID-19 has reinforced the understanding that early childhood education and socialization are critical to lifelong development, while also highlighting that it is nearly impossible to properly offer early childhood education in a remote environment. The unique constraints posed by the pandemic required the unique solutions offered by HiMama, a B Corp. certified provider of software to childcare centers in the U.S. and Canada. With over 50,000 reviews and an average 4.9 rating in the App Store, HiMama is the most reviewed and highest-rated app that is used by more than 10,000 childcare centers in Canada and the US, with more than one million parents on the platform.

The affordable education software solutions offered by HiMama have helped childcare centers track children's attendance and developmental skills and progress and plan programs, going a long way to ensuring that education and socialization for young children could continue despite the ongoing challenges of the pandemic. They also compiled a comprehensive set of resources like virtual and hybrid activities, webinars featuring industry experts, and digital forums that become all the more critical support systems for educators and center administrators as they sought to navigate the unprecedented challenges that came with the pandemic.

The financial impact of the pandemic-related closures to childcare centers was stark, and HiMama has played a meaningful role in helping childcare centers return to operation quickly by introducing new features like health screening, temperature checks, and contactless drop-off and pick-up. Their innovative payment processing technology, workforce management, and compliance technology also generated meaningful cost efficiencies while enabling educators to spend less time on manual paperwork and more time focusing on children.

There is a clear acknowledgment from the early childhood education community that there is much work to be done to make up for lost time. The Institute for Child Preparedness notes that when comparing childhood cognitive scores from 2020-2021 compared to 2011-2019, children born during the pandemic have a large reduction in verbal, motor, and cognitive abilities. Going forward, it will be vital for parents, caregivers, and childcare professionals to ensure support for the 'pandemic children' and provide them with access to additional resources and opportunities to help accelerate their development. HiMama will be there to support early childhood educators with the affordable tools and resources they need to provide a loving, vibrant educational and social environment for children and families.

Mission Statement

We Serve. We Inspire. We Support. We Change Lives! Impact Someone Today!

Case Study

Sourcing

Thematic development around fitness
With growing rates of obesity in America, fitness access was a key priority in thematic sector development within our Health & Wellness vertical.

Diligence

Gained conviction in investment & impact thesis during diligence
The company's mission to bring low-cost gyms to “fitness deserts” in low-health areas coupled with its compelling unit economics and white space expansion opportunities drove our conviction around the company's significant growth potential and social impact.

Deal making

BCDI partners with Impact Fitness
In December 2016, we negotiated the deal with a mission-driven founder who chose to partner with us due to our impact orientation and Bain Capital's expertise in helping scale founder-owned businesses at a growth inflection.

Value Creation

Rebranding and culture development
In January 2017, we rebranded the business to “Impact Fitness” and worked with the management team to define and communicate a set of company values ingrained into the company culture.

Built a strong operational foundation
We streamlined operating dashboards and implemented budgeting and KPI tracking.

Footprint expenasion
We developed a data-driven tool to evaluate sites for de-novo gyms. We worked with franchisor to acquire two development regions in Canada and opened our first gym in Surrey in December 2017.

Executed M&A
In December 2018, we completed the acquisition of six clubs in Indiana and Michigan.

Strengtened the management team
We meaningfully strengthened the management team by bringing on a number of key mission-oriented executives with deep functional and industry expertise, including a COO and CFO.

Exit

BCDI exits Impact Fitness
Having achieved our full underwriting growth plan, we worked with a sell-side advisor to launch a sale process. The company’s mission-driven management team and company culture coupled with its ability to attract membership in small, low-health markets garnered significant interest (and value) from potential buyers. In June 2019, we exited Impact Fitness to a partner excited to continue scaling the company's tremendous impact.

Leading wind farm developer and operator in Japan. Established in July 1999 to develop wind farms as a critical alternative energy source, JWD has become a pioneer in the domestic wind farm industry and is currently the number one independent developer of wind farms in Japan.