PHILOSOPHY

WE PARTNER WITH TALENTED FOUNDERS AND TEAMS THAT SHARE OUR LONG-TERM VISION.

AUTONOMY

Giving management freedom to run their business

LEGACY

Preserve the DNA of the companies we work with

DURABLE GROWTH

Patient focus on doing the right things to drive long-term growth

FLEXIBLE VALUE CREATION FOR SELLERS

We keep an open mind when it comes to structuring your exit and avoid rigidity at all costs

INVESTMENT CRITERIA

We look for 51%+ ownership of private, mission critical European B2B software companies with a consistent track record of growth and four or more of the following characteristics:

CUSTOMER BASE

Diversified, no concentration

SHAREHOLDER STRUCTURE

Closely held ownership, retiring founder transitions to strong bench, strong leadership looking for external partner

PROFITABILITY

Any EBITA range but typically 0-20%.

SIZE

Platform acquisition: Typically, €2-30M in revenue. Any size for bolt—ons

QUALITATIVE ASPECTS

Existing moat, mission-critical, preferably vertical market software, open to strong horizontal products

GROWTH

5-20%, sometimes >20% in large and/or growing TAMs

ATTRITION

<10%, preferably 5% or less