Sourcing

Value creation begins at the sourcing stage of a deal. We invest a great deal of time researching companies and sectors in order to identify areas where we believe value has been obscured. We leverage networks of industry experts and management teams to proactively create off-market investment opportunities.

Operational Enhancement

TDR has a unique execution-oriented operating partner model. We have a team of specialist operating professionals who lead our work in partnership with the management of portfolio companies, providing professional support in order to help management optimise operational performance. The operating team ensure a rapid implementation of the operational and financial plan in the first 12 to 18 months of ownership. They all have considerable consulting experience and typically focus the majority of their time on one company.

The operational enhancement work focuses on establishing and executing TDR's and management's shared vision for the business, but also includes management coaching and incentives, budgeting, add-on acquisitions and merger integrations, outsourcing and cost management projects.

Financial Innovation

We focus on highly efficient use of equity capital and we seek to apply innovative techniques to finance our transactions. In the PizzaExpress acquisition in 2004, our financing package resulted in half the equity requirement of the competing bid. In the Pearl Group (now 'Phoenix Group') acquisition, half of the cost was returned in our first year of ownership through innovative restructuring, and in 1997 the founding partners led the UK’s first ever tied pub securitisation through the Punch Taverns deal.