This sleeve invests in serial acquirers and operator-led platforms in industrial technology, vertical software, and technical and specialty distribution. Inclusion requires a repeatable M&A or operating playbook, mission-critical offerings, recurring or highly visible revenue, disciplined capital allocation, prudent leverage, high through-cycle returns on invested capital, strong free cash flow conversion, and a credible path to per-share value accretion.
Updated 2025-10-30