Investing

We keep the bar high in our search for businesses that offer both quality and opportunity

We focus on market leaders with deep moats and meaningful potential in four areas

Services
Healthcare
Niche sector leaders

Our investments share three key attributes

Deep moat

Our businesses have been built over many years and have unique capabilities that are hard to replicate.

Long-term sustainability

We invest in businesses that we believe will be important and relevant a decade from now.

Meaningful growth opportunity

We focus on leading businesses with a line of sight to grow cash flow.

Framework

Our framework assesses every business based on Quality, Durability and Opportunity.

We invest only when we are confident all three of these key attributes exist.

As a result, our businesses enjoy very similar characteristics, even though they may operate in different industries.

Quality

Our businesses have been built over many years and have unique capabilities that are hard to replicate.

Flexible
Time Horizon

Because we are selective in the businesses we acquire, and the ones we choose can be hard to come by, we look to sell them at the optimal point in our journey with them, when the opportunity is compelling or our work is done. 

Along the way we make strategic decisions with a view toward significant and sustainable value creation. Accordingly our time horizon is flexible, and we are comfortable realizing on our efforts after 5 years or after 10 years...whatever is appropriate for each business.

Durability

We invest in businesses that we believe will be important and relevant a decade from now.

Opportunity

We focus on leading businesses with a line of sight to grow cash flow.