Operating Businesses

Our approach

On a very selective basis, we provide companies and businesses a "good home", allowing them to grow organically and through buy-and-build, oftentimes becoming champions in their respective industries. 


We have no maximum holding period, and our financial commitment is open ended. 100% ownership is preferred (and we consider respective management participation and incentives). 


We are open to succession cases as well as very attractive opportunities that require restructuring, turning around or carve-outs of non-core businesses or portfolio cleanups, and are able to be "hands on". That includes the ability to complete a transaction fast and be flexible in terms of price and transaction structure. 


In any case, an (attractive) offering price must be in place and we rarely participate in bidding processes. This enables us to commit and close very fast, sometimes in a matter of days. 

Key criteria

For operating businesses, we prefer companies with high barriers to entry, attractive scalable profitability so that a promising buy-and-build strategy is possible. 


Secondly, it is better to be massively right than precisely wrong, which is why we only invest in cases with a significant margin of safety.