Growth aligned with our purpose
Our growth strategy is to acquire small to medium‑sized companies that are aligned with our purpose, and to grow them over the long term. Through this growth strategy, we aspire to double our earnings every five years while maintaining high returns.
Portfolio & performance
We actively manage our portfolio of companies by investing in acquisitions in niches adjacent to our existing operations which offer new opportunities for growth, and through mergers and disposals where market conditions change.
companies in our portfolio
countries where we operate
countries where we have customers
consecutive years of profit growth
Growth markets
We look for companies that operate in high-value niches that we know well, within the broad market areas of safety, the environment, and healthcare. These niches have global potential and a high exposure to our long‑term growth drivers.
£947.5m
Safety Sector total revenue +5.0% YoY growth
Safety Sector
Our Safety Sector companies protect people and assets. Our innovative technologies play a critical role in addressing safety risks in public, commercial and industrial environments, keeping people and critical assets safe and helping to create a safer and more sustainable future for everyone.
£1,037.7m
Environmental & Analysis Sector total revenue+33.6% YoY growth
Environmental & Analysis Sector
Our Environmental & Analysis Sector companies provide technologies that monitor the environment, ensure the quality and availability of life‑critical resources, and enable customers to analyse, test and transmit critical data through optical and photonic technologies.
£598.4m
Healthcare Sector total revenue+4.9% YoY growth
Healthcare Sector
Our Healthcare Sector companies help providers improve the care they deliver and enhance patients’ quality of life. They support the discovery of new cures, the prevention, diagnosis and treatment of patient conditions, and the enablement of safer, more efficient healthcare delivery through data, systems and technology.
We are structured for growth
Our simple and self‑sustaining financial model enables continuous investment in our growth strategy. Our companies’ growth is supported by access to expertise from the Group to give our companies a competitive edge in their markets.
Our decentralised structure is simple and lean, with only three layers – companies, sectors and Group teams – all three of which are aligned and rewarded for driving sustainable growth and returns. This gives us agility, enabling faster decision-making and reducing bureaucracy.
We look to acquire and invest in high-quality companies in global market niches that are aligned with our purpose and have long-term growth drivers. We then ensure they have the best talent to support their growth.
Our small Group teams provide a range of expertise to support our companies as and when they need it, helping to accelerate their growth strategies.
We have a sustainable financial model. Strong organic growth and cash generation allow us to continuously reinvest in future growth and acquisitions, as well as increase dividends to investors each year.
We measure our achievements through financial and non-financial key performance indicators (KPIs), through customer satisfaction and the delivery of shareholder value.
Our people & culture
We bet on talent. Our decentralised model requires exceptional leaders who are empowered and accountable to set strategy, create a high‑performing culture, and grow their own business.
Transparent incentives
We set clear, challenging targets each year and reward our people for delivering sustainable growth and returns, as well as supporting our people and protecting the environment.
Our agile business model
Continuous investment
We continually invest in our business and our people to maintain strong positions in our markets. The highly cash generative nature of our companies allows us to fund this investment, both to support organic growth and drive growth through acquisitions.
Our agile business model
