About
Transmission Capital is a family company that invests in asset-light businesses. We have patient capital and take a collaborative approach. We seek to align ourselves with founders and owners of quality small and mid-sized businesses.
Approach
Our aim is to own and scale businesses by purchasing majority positions in established, cashflow-generating companies generating under €5 million of EBITDA at acquisition. We invest our own balance-sheet and may be joined by a few select, value-add family offices we have close relationships with. We do not have a predetermined holding period. We may become operationally involved in the business ourselves.
Investment Criteria
Transaction profile
Ownership: typically founder or family run
Targeted EBITDA: €500k-5 million (operating margin > 10%)
Type: control
Business attributes
Stable revenue and history of profitability, ability to weather economic cycles
Defensible competitive position, repeat customers
Differentiated products with barriers to entry
Industries in the early stages of consolidation
Family-owned companies looking for additional resources to accelerate growth
Industries
B2B software
Business Services: professional, contract research, process outsourcing
Industrials: industrial services, value-added distribution
Healthcare: clinical trials, contract research organizations, devices, medical imaging, testing & diagnostics, in-home patient services, elderly care and technology-based healthcare solutions
Special situations
Holdings
Business acquisition : we acquire stable and cash generative businesses. We are looking for our first majority investment.
Strategic investments : we invest in businesses going through a transition, whether that be supporting a management team to buy the business from existing shareholders or cashing out existing shareholders
Aesthetic Partners Partners (AAP)
Aesthetic Partners Partners (AAP) is partnering and acquiring UK's leading Medical Aesthetics and Cosmetic Dermatology Clinics, with the goal of helping its partners to grow their practice, relieve them from mundane business operations, and provide them with exit opportunities.
APS Componentes
Founded in 2000, APS is the largest low and medium voltage Brazilian ABB distributor and service provider. APS distributes a wide range of products from several ABB group companies and provides critical services related to such products.
BPD Zenith
Headquartered in the UK, BPD Zenith is a leading provider of Enterprise Asset Management and Asset Performance Management software. It has a global presence, with expertise across North America, Europe and Asia.
Flying Eye
is a leading French value-add distributor of professional drones. The company is managed by Jeremy Ladoucette and Simon Leroy.
Maillon
Maillon, acquired by Alan Greco, is a family company, specializing in the import and distribution of pieces for the French cycling market.
Performer CNC
Based in the Lyon area, Performer is the exclusive distributor of Haas CNC machines in France, Maghreb and Spain. Haas Automation is an American machine tool builder that designs and manufactures lower cost machine tools and specialized accessory tooling.
Theia
Based in Grenoble, Theia is the publisher of a SaaS platform specializing in digital education. Over 15 years, it has been used by more than 250,000 users, and has performed more than 80 million exams.
Frotcom
Frotcom is a Portuguese telematics company providing a product for vehicle tracking and fleet management, with a focus on heavier vehicle. The company distributes its product in 50 countries through 46 distributors.
Motion VFX
Motion VFX is a Polish company, and the leading creator of plugins for Final Cut Pro, Apple's video editing platform. The company sells to all video editing professionals, from wedding crews to those working on Hollywood productions.
Steward of Recovery (SOR)
is a substance use disorder treatment provider based in Central Idaho. The company is led by Robert Wagner.
GHS
Based in Paris, GHS is the leading payroll software provider in the Performing Arts segment in France. Clients include the Chateau de Versailles, the Louvre and the National Opera of Bordeaux.
Nexti
Nexti is a pioneer in the digitalization of human ressource processes, providing software and hardware solutions to clients across Brazil. The company solutions streamline HR duties and reduce labor liabilities. Today, Nexti’s services reach more than 200,000 employees daily.
Syonet
Syonet is the leading brazilian used automotive CRM, and offers what dealers need to attract, sell and build loyalty.
Growth capital : we invest in companies that are rethinking the markets in which they operate. We tend to invest once the company has a clear product market fit, attractive unit economics, and the business seeks primary capital to develop and grow
HireArt
HireArt is an all-in-one platform to hire and manage contract workers in the United States. It provides recruiting, onboarding, workforce management, compliance, payroll and reporting tools to companies seeking to fill contract jobs quickly and cost-effectively.
Thursday Boots
Headquartered in New York, Thursday Boots is a leading men and women's brand delivering high-quality handcrafted boots and shoes directly to consumer. Their products are manufactured in Mexico, Portugal, Spain and Arkansas. The company stands out for the quality of its products, and its continuous testing and improvement.
Management
Alexandre Carel, Founder & Managing Director, London
Alexandre leads Transmission Capital's efforts, cultivating relationships with business owners, and with the management teams of the companies we are invested in. Prior to starting Transmission Capital, Mr. Carel had invested in more than 25 private companies in sectors such as insurance brokerage and food distribution. Mr. Carel started his career in the art market, at Christie's.
Mr. Carel holds an MBA from the Stanford GSB, and a BA from the Institut d’Etudes Politiques de Paris.