Our focus

We invest in businesses with attractive market dynamics where we see long-term, secular growth and a service offering that is highly valued. We focus on businesses which benefit from digitisation trends that we can scale organically and/or through buy & build. 

Within this sector, our core areas of specialism are IT Services, Tech-enabled outsourcing and Mature software. 

IT Services

The IT Services market spans several verticals, service types and vendor ecosystems, with future growth driven by increasing digititalisation. We carefully select the winning ecosystems and focus on fragmented markets where we can apply our successful buy & build experience, tapping into our international network and permanent capital.

With the IT services market, we focus on Cloud and IT infrastructure managed services providers, Software vendor integration and support services or application, and software development / DevOps. 

Tech-enabled outsourcing services

We look for businesses with a service offering that is highly valued, backed by a strong combination of people, process and technology enablement that gives either a cost advantage or a quality of service edge which, in return, enables a faster penetration.

Businesses with these characteristics typically have strong client relationships, attractive margins, a high level of revenue visibility and business model scalability. Furthermore, many sub-markets are still fragmented and offer buy & build opportunities where we have deep experience.

Sub-sectors that we invest in include Testing, Inspection and Certification (TIC), Human Capital Management or Business information, and data & analytics. 

Mature software

Our focus is on horizontal and vertical software in markets or ecosystems experiencing structural tailwinds and delivering a high ROI to customers. We focus on companies which are benefitting from the adoption and increased penetration of their end markets. We aim to help these companies achieve market leadership through acquisition or geographic expansion, and the transformation and enhancement of their revenue model by transitioning from “licence” to “Saas / subscription” while moving to Cloud. 

Sub-sectors that we invest in include Office of the CFO, supply chain, ERP, Human Capital and life sciences.