INVESTMENT FOCUS
1.
Mission critical vertical software and data B2B businesses underpinning financial services, investment management and risk & compliance, headquartered in the UK, Denmark, or the rest of Scandinavia
2.
Businesses with proven tech and profitable growth, serving fundamentally healthy end-markets with macro tailwinds and limited cyclicality
4.
Highly backable leadership teams with whom we are aligned culturally and in terms of appetite to improve and scale their businesses to the next level through our experienced guidance, networks and capital
3.
High levels of recurring revenues, retention rates, and a strong market position (niche market leader or strong challenger)
5.
Where founders / sellers / C-level management are open to a broad share of equity incentives to employees outside the C-suite to ensure full organisational alignment
6.
Off-market investments
7.
Majority or minority positions, and opportunities to co-invest with other PE funds where these and/or the management of their portfolio companies specifically ask for our involvement
8.
Our investment base case must provide high comfort that we will reach our minimum desired return range but with limited use of leverage, if any. We will have high focus on capital preservation in our downside cases
SECTOR FOCUS
TARGETING DATA AND SOFTWARE BUSINESSES WITH SPECIFIC REVENUE MODEL PROFILES
MISSION CRITICAL FINANCIAL & INVESTMENT SERVICES
RISK MANAGEMENT
COMPLIANCE SERVICES
INFORMATION & IP
1. HIGH LEVELS OF RECURRING REVENUE
2. INHERENT VALUE IN IP
3. HIGH BARRIERS TO ENTRY
4. MISSION-CRITICAL SERVICE
5. REGULATORY DRIVEN
6. PLATFORM FOR M&A
WHAT MAKES A TRIPLE DEAL
HIGHLY FOCUSED AND REPEATABLE STRATEGY RESULTING IN OUTSIZED RETURNS
1.
Pro-active off-market deal sourcing
2.
Strict focus on business profiles
Attractive geographic coverage
3.
Best-in class operational support
Drive transformational change
Strategic M&A and integration
4.
Maximise value at exit
Day-1 focus on strategic exit strategy
TRIPLE’S SOURCING APPROACH
SOURCING IS DRIVEN BY PRO-ACTIVE SCREENING AND A VERY STRONG SPECIALIST NETWORK
Long standing relationships
Pre-empted auctions
Screening for carveout candidates
Inbound from large-cap CEOs
Deep network of tech executives & founders
Access to networks of specialist advisors
SECURING OFF-MARKET, BILATERAL DEALS
LONG LEAD-TIME FROM INITIAL ENGAGEMENT TO CLOSING
PROBLEM-SOLVING APPROACH KEY TO UNLOCKING ENTRY
VALUE CREATION
TYPICAL AREAS FOR VALUE CREATION
TRACTION
Commercial awareness and discipline: profitable customers (LTV vs. CAC), identifying pricing variances, opportunities for multi-year subscription-based revenue models
Identifying and monetising product / service differentiators
Mapping drivers for customer / revenue retention
Optimising sales coverage, commercial models, commercialisation of IP and up-sell / x-sell
Deeper collaboration and embeddedness with customers and partners, e.g., co-sell and revenue share opportunities
Sourcing accelerated growth through bolt-on horizontal and vertical M&A and strategic partnerships
TECHNOLOGY
Ability to scale tech (e.g., cloud native)
Clarity of tech strategy, priories, risks, and roadmap
Approach to innovation and new product development
‘Quality’ and leverage of existing Tech providers
Tech partnering for accelerated delivery
TALENT
Demonstrable ‘A team’ operators: Clarity of the 3+ year strategy and route to growth, priorities, competition, self-awareness and openness to incremental data opportunities
Appropriateness and alignment of incentive models with Triple’s value creation plan
Strategic partnerships for accelerated execution, growth and new market entry
Support the leadership and board with priority talent