Sikich, a business services firm based in Chicago, has secured a minority stake worth $250 million from Bain Capital. The investment will be used to support the company’s expansion plans and has been structured as preferred equity. Founded in 1982, Sikich had previously not taken on outside investors.
Sikich’s CEO Christopher Geier stated that the company had reached an “inflection point” in its growth and that Bain’s involvement would facilitate the next steps in its development. Over the past five years, Sikich has doubled in size and aims to expand further through new acquisitions and strategic partnerships. The exact valuation of Sikich following this investment has not been disclosed by Bain.
With over 2,000 employees and a presence in the U.S. and internationally, Sikich offers services such as auditing, managing employee programs, and succession planning. According to Cristian Jitianu, a partner at Bain Capital Special Situations, Sikich’s unique business model has allowed it to gain market share despite a fragmented market.
Despite a decrease in large leveraged buyout volumes due to financing challenges in recent years, there has been sustained interest from private equity firms in growth equity investments. This trend was highlighted in a recent report from data provider PitchBook.
