Deals
Bain Tells Investors Varsity Brands Could Be Good IPO Candidate
- Deal values Varsity at almost $2.9 billion including debt
- Private equity firm’s 12th buyout fund invested in company
This article is for subscribers only.
Bain Capital is telling investors that Varsity Brands, the cheerleading outfitter it agreed to buy last week, could be a good candidate for the public markets.
The Boston-based private equity firm is acquiring Varsity for $2.9 billion, including debt, according to an email to investors seen by Bloomberg. The message, signed by the managing directors of Bain Capital Private Equity, said the company’s market-leading positions, resilience against internet rivals and consistent growth make it “an attractive IPO candidate.”