Strategies
We take a long term view investing in globally competitive businesses in capital constrained markets driven by macro tailwinds.
How we operate
We seek to quickly understand a business and investment via meetings with management and shareholders. We aim to agree on a term sheet in a matter of weeks, investing significant time and effort to ensure all parties are aligned from the outset. Upon exclusivity, we target completion within 8–10 weeks.During this time, we seek to agree on a 3-year business plan and a 100-day post-transaction plan prior to completing the investment. We remain committed to the execution of these plans, and will continue to work closely with the owners and management team throughout our investment period.
Due diligence & timeline
Pre deal
Information gathering
- —Understand the business
- —Initial planning workshop with management
- —Negotiate and agree term sheet
We learn your objectives, timeline and goals, while building a deeper insight into your business.
- ·Amount of equity to offer
- ·Value enhancing strategies for the company
- ·Creation of a 3-year strategy / business plan
Outcome → Go or no go
8–12 weeks
Due diligence
- —Begin due diligence (financial, legal & commercial)
- —Further workshops and forward planning
- ·Financial: analysis of the business drawing on tier-one external advisers to verify all accounts
- ·Commercial: work with owners and team so key commercial areas are robust and well validated, with workshops to build a 3-year strategy
- ·Legal: negotiate key documents such as the shareholders agreement and sale & purchase agreement
First 100 days
Settlement of transaction
- —Implement 100-day plan
- —Manage and report
- —Continue best-in-class process improvement
Hands-on from day one.
- ·Implementation: work with the senior team to roll out the agreed 100-day plan
- ·Recruitment: build bench strength within the team
- ·Expansion: research and map new markets and locations to grow into
Where we want to invest
We sit between later-stage growth and buyouts — profitable businesses, not venture, not turnarounds.
Investment criteria
- —US$5m to US$30m in enterprise value
- —US$1m+ EBITDA
- —US$3m to US$10m investment size (with potential for co-invest)
- —Growth orientated companies with industry tailwinds
- —A leader in their market with a competitive advantage
- —Opportunity for geographic expansion and bolt-ons
- —Preference to back founders and family businesses and to corporatise over time