Annual Review & Sustainability Report 2014 - page 35

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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
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2
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