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Global consultancy Bain & Company has announced a minority investment in sustainability ratings firm EcoVadis, just weeks after private equity heavyweight CVC bought a $200m stake in the company.
Bain & Company did not disclose its stake, or the amount paid, but said it would integrate EcoVadis’ sustainability ratings into its approach to corporate strategy, supply chain and procurement processes, indicating a “growing acknowledgment across the firm that the purpose of business must go beyond the singular focus of maximising shareholder value”.
Bain & Company is one of the ‘big three’ global management consultancies, with revenues of more than $4.5bn. It has a focus on private equity consulting, which makes up about a quarter of its global business. Its Global Private Equity Report 2020 advises on forming an …