Nick Leitch
[email protected]
0121 231 3225
How do you source business investment
opportunities?
We spend significant time with our networks highlighting
the transactions we’ve delivered, their progress to date and
how Seneca will work with them and the management team
in any company. What’s most encouraging is the number
of new opportunities we see on a week by week basis from
sources who’ve been recommended or have become aware
of our business from our growing profile and brand.
What has been the response of management
teams to Seneca’s involvement in the investments
you make?
We are always wholly open to being referenced via the
management teams we are working alongside, or have
worked with. Our skill is to supplement management teams’
capabilities. When that works we collectively accelerate a
business strategy. Whilst we’ll make tough decisions, success
is dependent on being collaborative with management, but
also implementing change where appropriate.
Are you effectively looking for turnaround
situations?
No, we are attracted to turnaround opportunities but not
solely and therefore there are numerous other investment
scenarios we will consider. Key characteristics for attractive
investments are; low entry valuations, manageable
investment risk and good potential returns. Naturally in
turnarounds day one risk following investment means the
entry value will be lower than a normal going concern. But
this is also true of ‘off market’ deals and hence we seek out
those deals where competition is limited, investment risk is
acceptable or low and there is a cogent exit story to deliver
solid equity returns. As a proportion of the current portfolio
turnarounds are in the minority.
What messages do you give to