Investment Philosophy
CapitalChange invests in small and medium sized companies with revenues from € 10 to € 50 million. CapitalChange does not finance start-ups and we prefer to acquire a controlling interest.
We are interested in working with organisations that at their core are fundamentally sound and competitive, even if they are facing a challenging period in their development. At CapitalChange we understand how businesses work and we can assess the level of risk we are taking. We are therefore prepared to invest in many situations which are less interesting to more traditional investors.
At CapitalChange we are equally as happy to remain a (dividend yielding) owner for the long term as we are to “exit” once the investee has achieved its objectives. This means much more flexibility when working with owners and management to structure a deal that works for all parties. It also provides room for a more structural approach towards growth of a company. We do not have a specific interest in particular industries, but we do consider it to be important that our investees relate to a number of themes, as listed under industry focus.
Industry focus
At CapitalChange we believe industry experience to be a distinct advantage, but not a necessity. The team of CapitalChange and their Active Advisors have line management and advisory experience covering a wide range of industries including technology, telecommunications, luxury goods, brewing, travel and tourism, and food production, to name a few.
The breadth of industry experience available at short notice extends further as a result of our wider network of interim managers and other contacts. Despite these industry credentials our focus is on seeking investments in businesses that fit within certain themes or trends. These themes, outlined below, reflect combinations of what we believe are fundamental drivers of the economy, as well as our professional interests:
– Aging population
– Entertainment, travel & leisure
– Efficiency improvements
– Environment
– Health & healthcare
– Safety & security
