The Australia international midfielder was on the verge of leaving St Mirren for Lancashire after a fee of around £250,000 had been agreed.
The transfer broke down at the bitter end, however, and Wanderers switched their sights to West Brom’s Zac Ashworth, who has signed on loan for the season with a view to a permanent deal.
Baccus was disappointed that the move did not come off but felt that he had “unfinished business” with St Mirren.
He told Australian site FTBL: “I always want to do my best to progress and get towards that dream of mine to one day play in the EPL.
“There was a chance there to perhaps take another step in that direction (by joining Bolton) but it wasn’t meant to be in the end and it didn’t work out.
“There was a bit of personal reasons why it didn’t happen and I also spoke to my club here and it felt like there was a bit of unfinished business.
“The move didn’t really go too smoothly and I’ve learned from situations in the past when things go smoothly that’s where you’re meant to be and vice versa.
“Nothing against Bolton at all, but I’ve learned when a team really wants you they’ll do most things to make it happen.
“I was upset for a week but I’m over that now and I’m grateful to be at St Mirren and for the way the club have treated me.
“I’m keen to just keep going here now for however long that might be.
“We’ll see what the future holds and I’m sure the right opportunity will present itself at some stage.
“But for now I’m happy to be settled here and back playing injury-free.”
Baccus had been struggling with a knee injury at the end of last season but since returning last month he has featured in four of the Paisley club’s six games in league and cup, all of which have ended in victory.