Investment to Support Acquisition of Blankenship Associates and Expand STEM and Next Generation Learning Environment Offerings
GAINESVILLE, FL and BOSTON – March 1, 2023 – Meteor Education (“Meteor” or “the Company”), an innovative developer of enriching and connected learning environments for K-12 schools, today announced it has received a growth investment from Bain Capital Double Impact. The new partnership will enable Meteor to expand into new markets and advance its mission to support educators in the creation of inspiring and transformative learning experiences for students. The investment will also support Meteor’s acquisition of Blankenship Associates, a multi-generational family business that seeks to create more effective learning environments through design, construction and installation services purpose-built for K-12 schools.
Meteor’s management team led by CEO Bill Latham will continue to run and remain significant owners of the business. Financial terms of the private investment were not disclosed.
Founded in 1967, Meteor has helped more than 1,000 K-12 school districts design and create high-impact ProSocial Learning Environments™ that promote collaborative educational experiences. These highly intentional design principles integrate technology, academic pedagogy, ergonomics, aesthetics, social considerations and the physical space to foster learning. Meteor’s modern learning and design solutions positively impact school districts across the country grappling with underinvestment in educational infrastructure and the continued aftereffects of the pandemic on student development and socialization.
“We founded Meteor to modernize and humanize the learning experience and empower educators and students to reach their full potential. Our Meteorites and education partners across the country have been instrumental to our success because they live this mission every day and hold a deep passion for helping students and educators thrive,” said Latham. “We are thrilled to now partner with the Bain Capital Double Impact team who share our commitment to enhance learning outcomes and emotional development while fostering the STEM and modern technology skills students need to succeed in today’s evolving economy.”
Additionally, Meteor Education is an emerging leader in building experiential physical and virtual learning environments where students can collaborate and build next-generation skills in areas like Robotics, Artificial Intelligence/Machine Learning, Virtual Reality/Augmented Reality, blockchain and more. To deepen its capabilities, Meteor has appointed entrepreneur and EdTech product leader Luyen Chou to the Company’s Board of Directors.
There is a growing body of academic research linking the impact of the learning environment on educational outcomes. Meteor plays a crucial role in fostering the overall learning experience and elevating student-teacher engagement by transforming school environments,” said Iain Ware, Partner at Bain Capital Double Impact. “Meteor has an innovative impact model and strong ESG values, and we are excited to further strengthen the Company’s commitment to enhancing learning experiences for educators, students and communities.”
Bain Capital Double Impact seeks to support the growth and mission of innovative education companies working to drive better learner outcomes, offer equitable access to high-quality schooling and skill building and cultivate social and emotional development. To do so, the team invests behind the next generation of edtech companies and service providers like HiMama, Penn Foster, Presence, TeachTown and now Meteor Education that empower learners and K-12 educators with tailored development solutions.
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About Meteor Education
Founded in 1967 and headquartered in Gainesville, Florida, Meteor Education is a mission-focused company committed to accelerated engagement and transformed learning experiences for educators, students, and communities. Meteor Education has helped more than 1,000 K-12 school districts design and create high-impact ProSocial Learning Environments™ that promote collaborative education experiences. As a leading services partner for educators, Meteor focuses on integrating best practices for teaching and learning that successfully foster modern learning environments and increase student achievement. Meteor Education was honored with a Glassdoor Employees’ Choice Award recognizing the Best Places to Work in 2023. For more information, visit www.meteoreducation.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 sustainability to create long-term value and meaningful social impact at scale. For more information, visit www.baincapitaldoubleimpact.com
