Investment Strategy

Investment Focus

Change as a chance

Perusa seeks to invest in sustainable businesses which are often in a state of change and which offer the potential to benefit from Perusa´s value creation approach. Perusa does not focus on a specific industry, but is situation-driven. Suitable situations include corporate carve-outs, companies with succession issues, companies with operational improvement potential or industry consolidation cases.

Perusa focuses on opportunities which meet the following key criteria:

  • Healthy underlying market
  • Defendable market position
  • Recurring revenues (non-project revenues preferred)
  • Room for future performance improvement
Dialect AB
Dialect AB

Dialect is a leading Swedish ICT provider

investment criteria


Perusa focuses on mid-sized companies in the German-speaking region and the Nordics. Target companies should generate revenues of more than EUR 30 million. Perusa’s equity ticket sweet spot is in the range of EUR 10 to 30 million per investment, but the Fund can invest up to EUR 50 million. Larger investments can be realized through co-investments by its Limited Partners.

Please find below an overview of Perusa’s key investment criteria:

Deal Situations

  • Corporate carve-outs
  • Industry consolidation
  • Secondary transactions
  • Succession issues
  • Turnaround situations

Key Criteria

  • Healthy underlying market
  • Defendable market position
  • Recurring revenues (non-project revenues preferred)
  • Room for performance improvement

Segments

  • No specific industry focus, situation-driven approach
  • Proprietary products or services preferred

Regions

  • DACH-region (Germany, Austria, Switzerland)
  • Nordics (Sweden, Denmark, Norway)
  • Other EU-countries opportunistically, in particular Benelux and UK

Target Size

  • “Healthy“ situations
    • EUR 30 - 250m revenues
    • EUR 4 - 15m EBITDA
  • Turnaround situations
    • EUR 50 - 500m revenues
    • EUR 0 - 15m EBITDA

Equity Tickets

  • Up to EUR 50m

 

Transaction Sourcing

A strong network decides

Perusa has build-up a well-developed network of financial intermediaries and industry executives over the years. Perusa highly appreciates and always tries to expand and intensify the relationships with financial intermediaries based on the principles of integrity and openness.

Thematic investment approach: In addition, Perusa follows a thematic investment approach. Perusa seeks to identify attractive industry niches with positive macro trends and the opportunity to consolidate the market. Perusa also usually tries to develop the portfolio companies with add-on acquisitions.

Please feel free to contact the team if you are engaged to sell a company, have a suitable investment ideas and are interested in a general exchange.

 

Production at Senator
Production at Senator

Senator manufactures 1.070.036 ball pens each day – 235.407.928 per year

Investment Approach

Active support for successful business development

Perusa’s investment approach is active value investing. The Funds look for solid businesses with further development potential through a hands-on approach, i.e. Perusa not only invests money in companies, but also supports the business development as active sparring partner of management. Perusa engages a dedicated operating team of functional experts with a strong background in strategic development, sales & marketing, operational performance improvement and financial analytics. Perusa supports the portfolio companies in making strategic acquisition to strengthen its market position, support growth and capture synergies.

 

Investment Culture

Responsible investing

Consistent with generating the best possible returns for investors, Perusa is committed to the highest standards of business practices and ethics. Perusa considers environmental, social and corporate governance (ESG) factors in business decisions and believes that this leads to a more sustainable and long-term value creation for its portfolio companies.

Tight principles across the investment cycle

Perusa’s investment policy was developed in alignment with strict ESG guidelines and considers environmental, public health, safety, social and governance issues associated with target companies when evaluating whether to invest in a particular company or entity, as well as during the period of ownership. Perusa’s partners and staff adhere to these principles and also encourage Perusa’s portfolio companies to advance these same principles.