What we look for
We focus solely on consumer related businesses and make investments across the sector including retailing, branded consumer goods, luxury and consumer services.
Most importantly, we work with founders and managers to identify operational areas where we can support them to improve and grow the business. We invest where we jointly identify significant opportunities to improve the business that leverage our operational experience. Some common initiatives include:
- Multi-channel development – helping brands and retailers engage consistently and effectively with their customers across all channels, including the internet, and using social and other digital media to effectively engage with end-customers to build brand awareness and value.
- International growth – leveraging our international experience to support managers in developing and implementing their international strategy including distribution, on-line presence, opening stores, joint-ventures/partnerships, franchises or licenses.
- Marketing and advertising effectiveness – working with managers to bring best practices to their marketing and advertising activities to optimise the impact of expenditure.
- Store roll out and optimisation – helping retailers effectively grow (or optimise) their store network to support their multi-channel strategy.
- Store operations – supporting management to develop best practice skills in in-store selling, merchandising and range planning.
- Sourcing optimisation – working with managers to identify new sources of high quality and low cost supply whether domestic, in Asia or anywhere in-between.
In addition to identifying the potential for operational improvements, Change Capital Partners looks for the following criteria when making investments:
- Like-minded managers – Core to a successful business is the strength of its management team. We seek out managers that are driven to grow and improve their businesses and want to partner with professionals that can help them be successful. Prior to going into partnership with managers we invest time to ensure we have a base of mutual respect and understanding from which we can effectively work together.
- Investment size of €20 million to €50 million – Our core focus is on established businesses with an enterprise value of €20 million to €250 million. We invest €20 million to €50 million of equity (or more in conjunction with our limited partners) as a majority or minority investor.
- European HQ – Geographically we look to invest in businesses headquartered in Europe, predominantly Germany, UK, France and Italy as the largest consumer markets, although we will consider opportunities outside this where we can clearly identify a fit with our operational expertise.