Private Equity Deals with Capital Allocators [REPLAY] - Private Equity Masters 2: John Connaughton – Bain Capital (Capital Allocators, EP.201)
Nov 23, 2022
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Joining Bain Capital During a Downturn
- In 1989, John Connaughton's mentors advised against joining Bain Capital due to the challenging market conditions.
- Despite this, he joined, and ironically, some mentors later followed him to Bain.
Bain Capital's Differentiated Approach
- Bain Capital differentiated itself through a consulting-based approach, focusing on strategy implementation.
- They aimed to change businesses' trajectories through operational improvements, unlike traditional financial investors.
Acquiring a Diagnostics Business
- Bain Capital acquired a diagnostics business from Baxter Healthcare for a low multiple due to its challenges.
- Securing a distribution agreement with Baxter was key to the deal's success.