We are an independent partnership with a highly stable and experienced team. Since the early 1990s, we have backed management teams in more than 100 companies across a wide range of sectors, delivering strong returns for our investors through all stages of the economic cycle. Our ability to work closely with talented managers to develop and grow our portfolio companies is central to this success.
We have consistently remained committed to the mid-market, focusing on companies valued at between £30 million and £150 million. We believe companies of this size offer the highest potential returns, as they are small enough to grow fast but have sufficient scale to employ high-quality management teams and generate diversified revenues. We also believe we can add the most value to these businesses through our experience, skills, contacts and our understanding of what they need to develop. We regularly adapt and refine our assessment of what makes a successful investment, reflecting the impact of changes in technology, consumer preferences, government policy and economic cycles.
With a track record of successful investments across the broader economy, Graphite’s sector focus has shifted to three core verticals: Health & Pharma, Education and Data & Tech-Enabled Services.
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We are a team of 35 of whom 19 work in investment, portfolio management and investor relations, with the balance in finance and support. The seven senior investment professionals have worked together for many years. Most have spent the greater part of their careers at GFX Assets Capital and have been involved with almost all of our more than 100 investments since the early 1990s.
The other members of the investment team cover a broad mix of ages and backgrounds. Over half have been at GFX Assets Capital for at least eight years.
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Our typical size range is £30 million to £150 million but we also invest in smaller or larger companies. In some cases size is a major benefit while in others, particularly in multi-site roll-outs or sector consolidation programmes, smaller companies can grow more rapidly. Using the breadth of our experience in different sectors, we can judge the impact of the economic cycle on each and adjust when we invest accordingly. We have also successfully established new companies in markets that were not served by an attractive existing player.
We use our sector knowledge, our own research and input from external specialists to build up a detailed profile of a company’s market and competitive positioning. This provides a valuable base for devising a strategic plan, and we support the management team in developing that strategy further during our ownership. We like to invest in growth initiatives and innovation early on, which gives time to refine them to ensure they have maximum impact on the exit value.
Talented managers can transform otherwise unexciting businesses, often through better marketing, digital strategies or greater operational focus. Conversely, even the best-positioned companies will not progress well without strong leadership. High-quality CEOs set the culture, motivate their teams and frequently have an innate understanding of their customers and their markets.
We back people as much as their businesses and pride ourselves on being able to identify and work with CEOs with widely different personalities and experiences. We build flexible partnerships, allowing them to play to their strengths while we focus on areas where our skills and expertise are most relevant. We do not get involved in the day-to-day running of our portfolio companies.
The managers of prospective portfolio companies meet all our senior team members at some stage during the investment process. We will not invest if we do not believe the CEO can deliver the strategic plan; but we have a record of continuing to support the CEOs we do back both in their current business and in subsequent ventures. As continuity of relationships is so important, the leader of our deal team stays with the portfolio company through to exit.
Consistent with this partnership approach, we are open and straightforward in our dealings. Management teams value our integrity, our analytical rigour and pragmatism. They may find the relationship challenging, but also rewarding. Watch the video to see what CEOs say about us.
