WOBURN, Mass.--(BUSINESS WIRE)--TeachTown (“the Company”), a leading provider of special education solutions for students with moderate to severe learning challenges, today announced that L Squared Capital Partners (“L Squared”) has agreed to acquire the Company from Bain Capital Double Impact (“Bain Capital”), a leading social impact investor. Financial terms of the private transaction were not disclosed. L Squared will continue the same impact goals set forth by Bain Capital.
Since its founding in 2003, TeachTown has been dedicated to improving the academic, behavioral, and adaptive functioning of students with disabilities from Pre-K through 12th grade, empowering them to reach their educational goals with evidence-based instructional practices. TeachTown has grown tremendously since its inception and today supports more than 100,000 students with differentiated products and purpose-built curriculum, earning the Company distinction on the 2023 Fortune Impact 20 list.
“Through our partnership with Bain Capital, we were able to significantly expand access to our educational solutions, invest to build a strong team, launch innovative products, and establish the infrastructure and processes to support our long-term growth,” said Richard Becker, Chief Executive Officer of TeachTown. “As we enter our next chapter with L Squared, we look forward to continuing to enable educational achievement, and positively impact the more than seven million students in the U.S. with disabilities with our solutions.”
“We are excited to partner with Richard and the entire team in this next chapter of TeachTown,” said Adam Kimura, Partner at L Squared. “We strongly believe in TeachTown’s mission to drive positive educational outcomes for the largely underserved population of students in the U.S. with disabilities. We look forward to investing further in TeachTown’s products to drive meaningful outcomes for both students and educators.”
During Bain Capital’s ownership, TeachTown invested meaningfully in product development, expanding its enCORE product, a comprehensive, standards-based core curriculum for students with moderate to severe learning disabilities. TeachTown now has a market leading, integrated platform, anchored by a pre-K-12 core curriculum solution, which combines personalized digital learning solutions with engaging, high-quality literature and physical materials. The Company has also meaningfully expanded its go-to-market organization to broaden access to TeachTown’s solutions. As a result, TeachTown experienced significant growth over the past several years while driving outstanding achievement for children in both academic and emotional development.
“We are proud of the results that our strong partnership with the TeachTown management team has yielded, both in driving its business performance and, more importantly, enabling access to high quality evidence-based instruction for students. TeachTown serves some of the most vulnerable populations in our society and plays a critical role empowering those learners with the opportunity to reach their full potential,” said Iain Ware, a Partner at Bain Capital. “This market remains significantly underserved with substantial remaining whitespace to scale, and we look forward to L Squared continuing to support TeachTown in helping to address the unique learning and development needs of the students they serve.”
Baird served as lead financial advisor to TeachTown, alongside Tyton Partners. Ropes & Gray represented the Company as legal counsel, and Vedder Price served as legal counsel to L Squared.
About TeachTown
TeachTown is exclusively focused on providing software and solutions for students with moderate to severe disabilities, including those diagnosed with Autism Spectrum Disorder and Intellectual and Developmental Disabilities.
About L Squared Capital Partners
L Squared Capital Partners is a private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over 15 years and have over 125 years of combined experience investing in growing private companies. For additional information, please visit www.lsquaredcap.com.
About Bain Capital Double Impact
Bain Capital Double Impact is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact leverages deep industry experience and an active, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact partners with companies across three themes – health & wellness, education & workforce development, and climate & sustainability to create long-term value and meaningful social impact at scale. For more information, visit www.baincapitaldoubleimpact.com.
