Boston-based consulting giant Bain & Company entered the ESG race this week with a minority acquisition in EcoVadis, a provider of business sustainability ratings for global supply chains.
Bain & Company will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. It will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.
Bain & Company’s investment, coupled with EcoVadis’ recently secured US$200 million investment from private equity players CVC, will enable EcoVadis to scale growth and maximise its impact on enterprise supply chains, embedding sustainability into business decision-making and corporate performance.
“Recognising that social and environmental challenges are growing, timelines for addressing them are contracting, and companies are moving quickly to adapt, Bain & Company is committed to our mission of creating value – economic, social, and environmental – for our clients,” says Jenny Davis-Peccoud, Co-Head of Bain & Company’s global Sustainability & Corporate Responsibility Practice.
“Environmental, social and governance issues are critical to business success, economic growth and societal improvement, and we are looking forward to working closely with two partners who rightly place these factors at the core of their business strategies,” adds Aaron Dupuis, Partner at CVC Growth Partners. “This collaboration with Bain & Company coupled with our recent investment is a real game changer for EcoVadis, and we are excited to back this new partnership with the full weight of the CVC network.”