We’re launching a new series, taking an in-depth look at the sub-sectors that underpin BC Partners’ four focus areas: TMT, Services & Industrials, Healthcare, and Food. These sub-sectors represent core verticals in each sector that align with our defensive growth strategy and where we have developed, over four decades, the expertise, network, and track record to succeed.
First up is Route-Based Services: businesses built around local branches, fixed routes, and the same customers coming back week after week. More density means better margins, and better margins make it cheaper to serve and win the next customer, creating a flywheel that’s hard for competitors to replicate.
Since 2018, we’ve backed four businesses on this model: GFL, GardaWorld, GES, and, most recently, Fortidia.
Read the full report here.
