THE FUND

Investment thesis

Transforming resilient family-owned SMEs into market leaders through industry expertise and hands-on approach

Market

Iberian companies
Leading position of the company in its market
High barriers to entry and limited substitution risk
Sustainable market growth backed by secular trends

Company

Sales €5-20M; EBITDA €0,5-2M
Stable growth & EBITDA margin
Solid balance sheet
Cash generating business
Strong entry barriers
Recession-resilient business model

Team & Transaction

Controlling stakes
Highly reputable partners or PE coinvestments
Experienced and committed management team
Strong alignment of interests

Value Creation

Hands-on approach
Industry expertise
Operating partners and healthcare related ey professionals
Dedicated teams on the invested companies

Healthcare supply chain

Focused on traditional business including equipment manufacturing and distribution, packaging/logistics and business services along with consumer (i.e specialist/niche clinics).

FOCUS

Traditional business models.

FCF generation and solid track record.

Low technology/R&D risk.

Niche services / products.

B2B or B2B2C.

Recurrent revenues and/or repeated clients.

OUT OF SCOPE

Seed investments and biotech.

Restructuring and Special situations.

Pharma laboratories and APIs.

Fast-Moving Consumer Goods (FMCG)