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Taking businesses from good to great

We invest in winning international growth platforms benefiting from consumer and technology-driven trends.

We focus on companies with excellent customer propositions and international growth potential, likely to be exposed to trends of: 

  • Polarisation (i.e. value/luxury at the expense of the mid-market)
  • Digital change
  • Convenience
  • Leisure and wellness
  • Changing demographics 

Key focus areas are: 

  • E-commerce
  • Brands
  • Multi-unit
  • Omnichannel
  • Private label CMO
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Healthcare is a dynamic sector undergoing significant change. We partner with leading businesses to improve patient and consumer outcomes while speeding time to market and managing cost, from innovation to clinical trial to delivery of care. 

Fundamental growth drivers include:

  • An ageing and more active population 
  • Greater access to healthcare globally 
  • Increasing use of data 
  • Advancements in areas such as biologics 
  • Minimally-invasive medical devices and personalised medicine 
  • Increasing patient engagement in healthcare and lifestyle decisions 
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We look for businesses with international potential that are leaders in their niche and are typically a critical product for their customers.

Industrial Technology is a large market with tailwinds from various megatrends including sustainability and Internet of Things.

With global supply-chains and requirements for quality, innovation and fulfilment increasing, we see opportunities to support international, industrial expansion from both a sales and supply-chain perspective.

In particular, we focus on the following areas:

  • Industrial CMO
  • B2B Distribution
  • Safety & Security
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Services & Software is a large, diverse, and growing sector with significant opportunities to build market leadings businesses.

We invest in businesses with attractive market dynamics where we see long-term, secular growth and an offering that is highly valued. 

Our focus is on businesses which benefit from the digitisation trends and that we can scale organically and/or through buy-and-build.

Our core areas of specialism are:

  • IT Services
    e.g. Cloud and IT infrastructure managed Services Providers, Software vendor integration and support services.
  • Tech-enabled outsourcing services
    e.g. Testing, Inspection and Certification (TIC), human Capital management or Business Information, data & analytics.
  • Mature software
    e.g. Office of the CFO, supply chain, ERP, Human Capital or life sciences.
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Consumer & Private Label

Stores grown from 245 to 2,300
Action Trailer Sustainable Full EN
ACTION New

From a local Dutch company to a European market leader with ​2,300 stores and c.80,000 employees in 11 countries​

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Consumer & Private Label

60% EBITDA growth
Bilder Image 72Dpirgb
Amor Logo NEW

Customer focused jewellery retailer successfully ​expanded internationally ​

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Industrial

4.1x money multiple
Aspen Pumps Image EF
Aspen NEW LHS

From a UK exporter to a global market leader, renowned for product quality and innovation

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Services & Software

4.4x money multiple
Straesser
Atesteo New

From an owner-managed diversified engineering company ​to a world-leading testing and inspection specialist for the ​automotive industry​

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Consumer & Private Label

>5x money multiple
MG 4831 HDR
Basic Fit 2022 New

From a Benelux-based operator to Europe’s largest value-for-money fitness club operator ​

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Healthcare

Nine acquisitions to date
Cirtec Device
Cirtec 3 Color NEW LHS

Transformed from a North American specialist to a market-leading global medical device outsourcing platform

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Services & Software

Internationalisation through 10 acquisitions
Civica Data Stream Image
Civica NEW

UK-focused software solutions to a leading international integrated software, managed services and cloud solutions provider​

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Services & Software

4.5x money multiple
Man And Machine
Element NEW

Carve-out of a network of local independent testing laboratories​ built into a world-class integrated testing business​

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Services & Software

Five acquisitions completed
Banner7
EVERNEX NEW

From a regional leader to a fully integrated global leader of data centre equipment maintenance​

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Consumer & Private Label

4.7x money multiple
Gant 01608SSBG A
Gant Logo NEW

Successful international expansion and development of a premium brand of clothing for men, women, and children​

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Healthcare

3.1x money multiple
Naturé Moi
Havea Group New LHS

Transformational growth to build a prominent European leader in the fragmented natural consumer healthcare market

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Industrial

Established plant in China
Hilite image
Hilite Logo NEW

Ambitious growing automotive business to a truly global leader in innovative products to improve fuel efficiency

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Industrial

10x money multiple
Hyva image
Hyva NEW LHS

From a Dutch-based business to a global market leader with 3x growth in turnover

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Services & Software

40%+ bookings growth
Magnitude Option
Magnitude Logo NEW

From a collection of point solutions to a leading ‘insights to action’ platform for complex ERP environments

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Consumer & Private Label

3.6x money multiple
3 Bottles Tommee Tippee
MAYBORN NEW

From a UK consumer products business to the fifth largest ​baby accessories business globally​

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Industrial

60% revenue growth
PE Mold Masters Image
Mould Masters NEW LHS

From a family-owned business to a world-class global market leader in hot runners

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Consumer & Private Label

Strong growth in US
Cat
MPM Logo NEW

From a strong, growing mid-market pet food player to a global market-leading premium cat food business​

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Consumer & Private Label

Growth through acquisition
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NEXEYE NEW

From a Benelux offline retailer to a value-for-money challenger with best-in-class omnichannel capabilities in the north-western European optical retail market​

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Industrial

5.5x money multiple
Norma image
NORMA Group NEW LHS

From a German family-run business for clamps to a global market and technology leader for engineered joining technology

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Healthcare

Expanded global manufacturing footprint
Degania Silicone Erezbit0138
Q Holding NEW

From a North American high-quality medical device manufacturer to a globally connected medical provider of mission critical devices

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Healthcare

75% growth in employee numbers
Quintiles image
Quintiles NEW

Transformational growth to become the world’s largest provider of life sciences product development and integrated healthcare services

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Consumer & Private Label

Successful IPO on Euronext Amsterdam
DSC2458 Fin
Refresco Logo NEW

From a European juice manufacturer to a leading European independent bottler of soft drinks for A-brand owners​

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Healthcare

Five acquisitions in 12 months
Bottle Assembly 1
Sanisure NEW

Created one of the largest independent single-use solutions platforms in the bioprocessing industry through innovation and buy-and-build

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Industrial

7x money multiple
Portfolio Scandlines
Scandlines NEW

Transformed from a state-owned business to a ‘best-in-class’ ferry operator connecting Scandinavia with continental Europe

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Services & Software

International roll out through 4 acquisitions
Trescal 300Dpicmyk
Trescal NEW

Invested in the lead service provider in calibration and measurement service solutions in France and, in three years, created a global business​

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Healthcare

Invested >$100m in R&D
Axellia Køben Cfc0231 300Dpicmyk CROP
Xelia Logo NEW LHS

Transformed from a supplier of niche active pharmaceutical ingredients to a fully-integrated speciality pharmaceutical company

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