Specific approach

Requirements for a partnership

We seek to co-own and co-manage companies that not only show the usual LBO or growth-capital candidate features (well established market positioning, positive and predictable cash-flows, distinctive product/process technology) but possess some of the following main characteristics:

the potential to extend their value chain or achieve scale through add-on acquisitions or manufacturing system re-engineering

the opportunity to enhance the existing human capital and possibly attract qualified resources in connection with new business needs

the desire to modify or accelerate their growth path to better comply with market trends

This goal is normally achieved in three steps:

the management and whole organisation must acquire a frame of mind characterised by high degree of “positive disappointment”, i.e. dissatisfaction with the status quo and an urgent desire to raise performance to significantly higher levels

we develop an allocation plan of the company’s scarcest resources (i.e. capital and management time) to those areas in which the company is most competitive and where the highest returns can be generated. We support management with analytical and sparring capacity to develop such a strategy but management remains the driver

appropriate change processes in the organization must be implemented: this is a management task and we will provide assistance without getting involved in day-to-day operating second level decisions in order to respect their roles


Generally, our investment opportunities are sourced pro-actively, often due to the necessity to face market challenges, to achieve the replacement of certain shareholders or to prepare for an orderly succession in the medium term.

Interaction with the entrepreneurs

The team has a true and – not just declared – focus on operational matters. This is at the heart of our actions.

Responsible investing

We do not engage in a belated greenwashing, we always believed that paying attention to environmental protection, work-place safety and human resources was essential