Our focus areas

Sectors we know, and invest in for the long term.

We acquire owner-managed UK companies that provide services people and organisations cannot go without. Waste management and recycling is our primary focus, followed by healthcare transport and clinics, and the wider transport and logistics sector.

01

Waste management, recycling and sustainability

Primary focus

Waste businesses do work that cannot be skipped. Bins are emptied and skips are lifted in every economic cycle, customers tend to stay for years, and environmental permits make it hard for new competitors to set up nearby. Rising landfill tax and tighter rules on recycling are shifting the market towards operators who can sort, recover and report properly.

Many of the best regional operators were built by one family over decades. We want to be the buyer that keeps those businesses local, keeps the team, and gives them the investment to grow.

What we acquire

  • Skip hire and roll-on roll-off
  • Commercial and trade waste collection
  • Waste transfer stations
  • Materials recovery and recycling processors
  • Specialist, clinical and hazardous waste
  • Environmental and site services

What we look for

  • Environmental permits and a clean compliance record
  • A loyal base of commercial customers
  • Owned or long-leased sites
  • A well-maintained fleet
  • An experienced yard and operations team

How we evolve it: AI-assisted route optimisation, digital waste transfer notes, weighbridge and tonnage data linked to billing, and live reporting on recycling rates for customers who need it.

02

Non-emergency patient transport and healthcare logistics

Secondary focus

Patients still need to reach dialysis, outpatient appointments and discharge from hospital, and the NHS relies on independent operators to carry many of those journeys. Good providers hold long-term trust and ICB contracts, carry CQC registration and earn their reputation one journey at a time.

We also look at the logistics that keep healthcare moving: specimen, pharmacy and medical courier services, where reliability and compliance matter as much as speed.

What we acquire

  • Non-emergency patient transport services
  • Private and contracted medical transport
  • Specimen and pathology logistics
  • Pharmacy and medical courier services

What we look for

  • CQC registration in good standing
  • NHS trust, ICB or private contracts
  • Trained crews and sound safeguarding
  • A suitable, well-kept fleet

How we evolve it: smarter journey planning and patient scheduling, digital booking and real-time tracking for commissioners, and simpler contract reporting.

03

Physiotherapy, chiropractic and MSK clinics

Musculoskeletal care is in growing demand, from private patients, insurers and employers alike. Established clinic groups with loyal patients and skilled practitioners are well placed to grow, but often lack the time and systems to open new sites or win larger contracts.

What we acquire

  • Physiotherapy practices and groups
  • Chiropractic clinics
  • Multi-disciplinary MSK clinics
  • Occupational health and rehabilitation providers

What we look for

  • Registered, experienced practitioners
  • A strong local reputation and repeat patients
  • A mix of private, insured and contract work
  • Room to add sites or services

How we evolve it: online booking, automated reminders to cut missed appointments, better use of clinic diaries, and clear outcome data for insurers and employers.

04

Transport and logistics

Fleet-based businesses sit naturally alongside our waste and healthcare companies. We look at regional hauliers, specialist distribution and contract logistics firms, particularly those already working for customers in our core sectors.

What we acquire

  • Regional haulage
  • Specialist and temperature-controlled distribution
  • Contract logistics
  • Fleet-based service businesses

What we look for

  • An O-licence in good standing
  • Contracted or repeat customers
  • A modern, maintained fleet
  • Strong driver retention

How we evolve it: load and route planning tools, telematics, fuel and maintenance analytics, and fewer empty miles.

Acquisition criteria

What a typical acquisition looks like.

EstablishedA long record of steady trading
ProfitableConsistent profits over at least three years
UK wideHeadquartered in the UK
FlexibleFull buyout, majority stake or management buy-in
PatientDeferred consideration and phased handovers

Smaller clinics and specialist operators are welcome too. If the business is strong, we would like to talk. Advisers can send us an opportunity here.

In confidence

Want to work with us?

Owners, advisers and investors are all welcome to get in touch. Every conversation is confidential, and there is no cost and no obligation.