We believe there is such a thing as a good business. When we bring a business into the Sullivan Street fold our ambition is unlimited – the size of the companies we manage leaves enormous potential for growth. However we also believe none of that will be tapped without first becoming a good business, with strong ethics, dedicated employees, good controls and processes and high quality, enthusiastic management. All supported by good stewardship from shareholders.
When we look for a business to become part of our group, we are not looking for a unique business model or market-killing application. We are, however, conviction-led, and search for complexity in a transaction at acquisition. Not in the sense of overall problematic businesses – acquiring these is not our goal – but situations with issues which we believe are specific, identifiable and fixable.
We are attracted to situations which deter others and we are not just prepared to, but are excited to, wrestle with and solve these complex operational, structural or transactional issues to acquire companies we believe are attractive. We take views that others who buy companies will not be prepared to, looking past the standard diligence to the fundamentals they mask. Often we find the best of these companies unwanted by owners, ignored by a series of governance models.
From there we have the skillsets to steward them on the path to becoming a good business. With experience in large and small private equity, we understand the initial acquisition, investment, capital structures and can drive growth through acquisitions. Our operational abilities and experience, as well as our broad network of specialist associates, mean we can support executive management in the change management and growth required. All against a backdrop of good governance, and taking our role as stewards of a company, with all of its stakeholders, as seriously as possible.