Case studies
Buy and build is a central theme to every investment that we make, whether by acquisition or through roll-out and geographic expansion. The case studies on this website illustrate our commitment to this strategy, which is also summarised below.
Our ambition for our portfolio companies is not constrained by geography or financial and operational complexities. We thrive on working with management teams who have equally ambitious plans for their businesses.
| Investment | Summary |
|---|---|
| Astron | Four add-ons, building enterprise value from £55 million to £520 million |
| Barracuda | Grown from 35 to 155 units |
| BST | Expansion of US operations, and entry to Asian market |
| European Dental Partners | Five add-ons in first three years of investment |
| Finnish Chemicals | US acquisition and investment in expansion of capacity in Europe |
| Fired Earth | Roll-out of showrooms |
| Gala | Three acquisitions with enterprise value of £145 million |
| Histoire d’Or | International expansion and store roll-out; number of stores increased to 208 from 124 under our ownership |
| JOST | Geographic expansion plus acquisition of complementary businesses |
| Kalle | Major US acquisition significantly increasing presence in key market |
| Link Financial | International expansion |
| Moliflor Loisirs | Five acquisitions increasing approximately doubling number of casinos owned |
| Oasis | 148 new stores and concessions opened |
| Orefi | 23 add-on acquisitions in France |
| orizon | Two major acquisitions within first few months of ownership |
| Phadia | Acquisition of key supplier |
| Pubmaster | More than 200 pubs acquired |
| Sterigenics | >$100 million invested in processing capacity; three new facilities built in China and Germany |
| TMF | More than 50 acquisitions globally |