Philosphy
PARTNERSHIP
We work as a team with our portfolio companies and operating partners to pursue opportunities together.
Our strategy
We create value by building better businesses. We focus on sectors, geographies and investment profiles where we have extensive knowledge and experience. We invest in companies where we have identified earnings growth potential and work with the management teams to achieve it. We are a business partner, as well as a financial investor. When our growth objectives have been achieved, we try to time our exit to suit all stakeholders.
Operational resourcing
Our approach to value creation is highly resource-intensive. We are particularly adept at carve-outs and complex deal structures that can often require significant research, detailed analysis and in-depth negotiation with vendors before we invest.
Operational skills enable us to help create more sustainable value and many of our investment professionals have industry and consulting backgrounds. Our operating partners are typically former CEOs or COOs whose board level experience and industry knowledge help to identify and drive improvements with the management teams at our portfolio companies.
Portfolio support
Our partnership with management begins with determining how our operational resources can best be used to help the company achieve its objectives. This includes Portfolio Support, a new Advent team of experienced deal and operating professionals who assist management with making the changes necessary to support long-term value creation where needed.
STRATEGIC REPOSITIONING
Company
Charlotte Russe
Fashion retail
Sector
Retail, Consumer and Leisure
Invested
October 2009
Fast fashion is a major growth segment of US retail. Operating partner and now CEO Jenny Ming is a highly regarded retail veteran (Gap, Old Navy). She is using her experience and a “dream team” of trusted executives, to turn around this national specialty fashion retailer. Consistently profitable, Charlotte Russe has underperformed competitors in key metrics. Improvements in sourcing, merchandising and store layout will close the gap, with new store openings and a brand new store concept driving growth.
www.charlotterusse.com
HIGH GROWTH
Company
Ultimo
Debt purchase and collection
Sector
Business and Financial Services
Invested
October 2006
Ultimo has grown to be a market leader in the Polish debt purchasing and collection market. The company has a sophisticated operating platform. The introduction of international best practices has led to increased productivity and cost efficiency throughout the collection process. The size of this market is set to grow significantly as banks start selling more recent non-performing debt. Having increased its buying power with the first ever bank financing for this line of business, Ultimo is poised to extend its leadership well beyond its present 20% market share.
www.ultimo.pl
INTERNATIONAL EXPANSION
Company
International Meal Company (IMC)
Casual dining
Sector
Retail, Consumer and Leisure
Invested
November 2006/Holding company created October 2008
IMC has grown significantly under our ownership. It now operates close to 200 restaurants in airports, highways, city centers and shopping malls in Brazil, Mexico and the Caribbean through seven premium brands. It is the largest casual dining chain in Latin America and employs more than 7,000 people, compared with 700 in 2006. An experienced management team has achieved excellent integration synergies through centralization, best practices and economies of scale. More than 60 new restaurants have opened since 2008, many outside traditional locations, with a high-quality acquisition pipeline.
www.internationalmealcompany.com