35
        
        
          Leading providers of critical
        
        
          or high value-added services.
        
        
          The companies are typically
        
        
          beneficiaries of a growing
        
        
          global outsourcing trend.
        
        
          Their asset-light capital
        
        
          structures gives them a
        
        
          high cash conversion rate
        
        
          and an ability to expand
        
        
          internationally without
        
        
          undertaking major capital
        
        
          investments.
        
        
          Leading companies
        
        
          which operate in markets
        
        
          with long-term growth
        
        
          underpinned by positive
        
        
          trends in demographics and
        
        
          consumption patterns. The
        
        
          underlying industries need
        
        
          to be mature but are often
        
        
          still fragmented, giving
        
        
          the company an attractive
        
        
          opportunity to consolidate
        
        
          the market. Growth is
        
        
          typically scalable on an
        
        
          international level.
        
        
          Global leaders in the
        
        
          design and manufacturing
        
        
          of specialty products.
        
        
          The underlying markets
        
        
          are mature and often
        
        
          consolidated with high
        
        
          barriers to entry for new
        
        
          competition. New markets are
        
        
          key in offering future growth
        
        
          opportunities and possibilities
        
        
          for operational improvement.
        
        
          Services and
        
        
          Concessions
        
        
          Platform
        
        
          Consumer
        
        
          Retail and
        
        
          Leisure
        
        
          Platform
        
        
          Industrial
        
        
          Manufacturing
        
        
          Platform
        
        
          Avincis’s rescue operations in
        
        
          the North Sea
        
        
          1
        
        
          2
        
        
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