BAIN CAPITAL TO BUY CONVENIENTMD CHAIN

Bostonbased private equity firm Bain Capital is acquiring control of the fast-growing ConvenientMD, a Portsmouth-based urgent care center chain.

Bain, which is buying the controlling stake from Starr Investment Holdings, says it has plans to add hundreds of jobs annually for the next several years as it expands the ConvenientMD footprint in New England.

ConvenientMD generated $105 million in revenue in 2020 and employs about 1,200 physicians and other healthcare workers. It has 26 clinics in New Hampshire, Maine and Massachusetts.

The deal is expected to close within the next 45 days.

The company will continue to operate under its current management team, led by co-founder Gareth Dickens and President Mark Pundt. Dickens will continue to serve as chair and CEO of ConvenientMD after the sale.

In New Hampshire, the company operates clinics in Bedford, Belmont, Concord, Dover, Stratham, Keene, Littleton, Londonderry, Merrimack, Nashua, Ports mouth and Windham. A new location is being built in Manchester.

PETE AND GERRY’S SELLS TO LOS ANGELES- BASED PRIVATE EQUITY FIRM

A Los Angelesbased private equity firm is buying a majority stake in Pete and Gerry’s Organics, a leading producer of organic, free-range and pasture-raised eggs in Monroe, NH.

Terms of the transaction were not disclosed by either Pete and Gerry’s or the private equity firm, Butterfly.

Pete and Gerry’s CEO Jesse LaFlamme said the capital infusion will allow the company to accelerate its steady growth of the past decade, including helping the brand expand distribution across the country more quickly, including opening a new processing facility on the West Coast.

LaFlamme will stay on with the company in an advisory capacity and as a member of the board of directors.

He explained that after growing the business 20-30% annually for the past decade and rising to meet increased demand of 30-50% during the pandemic, Pete and Gerry’s “has grown to a size that I honestly never could have imagined.”

DATANOMIX RAISES $6 MILLION IN SERIES A FUNDING

The round was co-led by Gutbrain Ventures and PBJ Capital, with participation by CEAS Investments and existing investors, including Argon Ventures, York IE, Wasabi Ventures, Alumni Venture Group and Millworks Fund.

The latest investment brings the company’s total raised to date to $9 million.

The capital will be used to allow the company to expand its sales, marketing, customer success and engineering departments, Datanomix CEO John Joseph said.

The company sees the opportunity to expand its market reach as U.S. manufacturing appears poised to undergo a resurgence and modernize their factories.

Datanomix says its Fusion platform requires no operator input and automatically benchmarks production using only manufacturing equipment data. It also allows users to review specific metrics, jobs and clients at any time.

Datanomix has 15 employees.

PLANET FITNESS UPBEAT DESPITE FIRST-QUARTER RESULTS

Planet Fitness, the Hampton-based fitness franchiser, reported that revenue fell more than 12%, to $111.9 million, same-stores sales decreased nearly 15% and net income dropped 40%, to $6.2 million, in the first quarter.

But it is earning money so far this year.

For all of 2020, it lost $15 million.

Nearly all of the company’s U.S. gyms are now open and membership is 40% of pre-pandemic levels. But more people returned during the first quarter.

“We believe that the positive headline news on the Covid-19 vaccine availability drove a seasonality shift in our membership trends as March membership growth exceeded March 2019, reinforcing our belief that people are eager to get back into our gyms,” said CEO Chris Rondeau in an earnings call. Later he added: “I think it’s pretty astonishing that we’ve gotten back here in just four months.”