Advantage Solutions

active

Services / Marketing — Bain Capital / Leonard Green / Conyers Park (SPAC)

Deal Terms

Entry Year2014

Entry EV$4.5B

Entry Multiple12x

Leverage6x

Debt Amount$2.7B

Risk Metrics

LTV (est.)60%

Debt / EV0.60x

Notes

Bain/Leonard Green assembled sales and marketing outsourcing platform via 50+ acquisitions. SPAC merger at $5.2B (2020). Stock crashed 75%. $2.7B debt. Revenue stalled. Provides in-store product demos, sampling, merchandising for CPG brands. PE-built rollup of gig workers — assembling low-wage labor forces under a leveraged corporate umbrella.

Sponsor

Bain Capital$185B AUM