Investment Strategy
Growth Businesses
We invest in growth-oriented businesses with strong free cash flow
characteristics, driven more by secular growth trends than overall
GDP growth. We seek to grow our portfolio companies both
organically and through acquisitions. Organically, we invest in
resources to expand into new products, new markets, new geographies
and new channels of distribution. We also look for platforms in
fragmented industries where we can accelerate growth through
acquisitions. We typically invest in companies with enterprise
values between $250 million and $2.5 billion.
Industry Expertise
We focus on companies in four core sectors with attractive secular
growth: Business & Financial Services, Consumer & Retail,
Healthcare, and Media, Information Services & Technology.
Approximately 85% of the capital invested during the firm's 40-year
history has been deployed in these three sectors. Through decades
of experience, we have developed deep industry expertise, knowledge
and relationships, which we believe make us better investors and
better partners for management.
Operationally-Intensive Approach
Our teams of investment and operating professionals partner with
portfolio company management to identify and implement
organizational, operational and strategic improvements and to
accelerate sustainable revenue and profit growth. We bring
expertise in critical areas such as pricing and sales force
optimization, business process reengineering, IT system and
management, supply chain management and procurement and healthcare
plan design. We strive to build great companies of
lasting value and to generate superior investment
returns.
North America
We invest in companies headquartered primarily in North America,
where we can leverage the strength of our network of relationships
in the region. The businesses are are generally global in scope,
with operations and resources around the world to capitalize on
international growth opportunities. International expansion is
frequently an important component of our value creation plan. We
believe expanding geographically from a North American base can
provide access to global growth with lower risk than investing
directly in international markets.
