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    We create long-term value with strategic, operational transformations

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Our approach > Strategy

We create change through collaboration and responsible growth

We create change through collaboration and responsible growth

What we do

Our approach creates long-term value through strategic operational transformations within
a defensive, growth-oriented strategy. We are uniquely positioned to do this in the real economy due to our focus on sectors at the heart of global economic activity.

Our unique perspective on unlocking potential and prioritising strategic growth is core to our activity and to delivering long-term value for our investors and portfolio companies.

We aim to increase the strategic value of the businesses we own, while considering environmental, social and governance (ESG) impacts. As leaders in the real economy who have been operating in our sectors for decades, we build strategic value using operational transformation – superior transformation capabilities that internationalise and generate growth.

As industry insiders, we have specialist sector expertise that enables us to identify trends fuelling growth; a pan-European presence with extensive, real economy coverage; and an emphasis on targeted strategic partnerships. All of this helps us generate strong, replicable performance.

Discover our transformative partnerships
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How we operate

We acquire co-control or majority stakes in medium to large companies that are already leading brands in their markets, focusing on our four sectors in the real economy – where we believe growth is sustainable through economic and financial cycles.

We harness our industry connections to deliver transformation, addressing every potential aspect of an investment: market position, growth, product and service development, consolidation – and beyond.

We have developed a large and diversified investor base across our flagship and mid-market private equity funds. Our funds are guided by a single strategy of sector- and country-focused investment, which covers both our flagship fund for large companies and our mid-market funds for medium companies.

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Our sectors

  • Food & Consumer

  • Business Services

  • Industrial Goods & Services

  • Healthcare

Food & Consumer

The consumer industry – specifically, consumer staples where we focus – is characterised by its relative stability across economic cycles. We have consistently generated compelling investment returns by identifying opportunities to enhance organic growth and pursue industrial consolidation in attractive subsectors.

Our approach centres on investing in people, capacity, innovation and brand support to drive above-market growth.

Business Services

Structural trends — including the shift towards specialist service providers, rising automation and increasing complexity — are accelerating the growth and professionalisation of business services while creating significant consolidation opportunities.

We target market-leading platforms that are well-positioned to capitalise on this dynamic, backing management teams with the ambition and capability to execute disciplined consolidation strategies and build category-defining businesses.

Industrial Goods & Services

Our expertise in specific sub-sectors, such as building materials, packaging, transportation and industrial services, enables us to successfully navigate the large and complex industrials sector.

This enables us to identify opportunities arising from key macro trends, such as the ongoing energy transition, automation and digitisation, and deglobalisation of supply chains. It gives us an edge in selecting companies expected to benefit from those trends, with attractive transformation potential.

Healthcare

In Healthcare, attractive investment opportunities are driven by capacity expansion, innovation, consolidation among service providers and value creation through service improvement.

In all segments of Healthcare, we seek to identify companies that stand to benefit from trends towards enhanced consumer choice, improved information available to patients, and prevention over treatment.

Food & Consumer

Food & Consumer

The consumer industry – specifically, consumer staples where we focus – is characterised by its relative stability across economic cycles. We have consistently generated compelling investment returns by identifying opportunities to enhance organic growth and pursue industrial consolidation in attractive subsectors.

Our approach centres on investing in people, capacity, innovation and brand support to drive above-market growth.

Business Services

Business Services

Structural trends — including the shift towards specialist service providers, rising automation and increasing complexity — are accelerating the growth and professionalisation of business services while creating significant consolidation opportunities.

We target market-leading platforms that are well-positioned to capitalise on this dynamic, backing management teams with the ambition and capability to execute disciplined consolidation strategies and build category-defining businesses.

Industrial Goods & Services

Industrial Goods & Services

Our expertise in specific sub-sectors, such as building materials, packaging, transportation and industrial services, enables us to successfully navigate the large and complex industrials sector.

This enables us to identify opportunities arising from key macro trends, such as the ongoing energy transition, automation and digitisation, and deglobalisation of supply chains. It gives us an edge in selecting companies expected to benefit from those trends, with attractive transformation potential.

Healthcare

Healthcare

In Healthcare, attractive investment opportunities are driven by capacity expansion, innovation, consolidation among service providers and value creation through service improvement.

In all segments of Healthcare, we seek to identify companies that stand to benefit from trends towards enhanced consumer choice, improved information available to patients, and prevention over treatment.

Why our strategy works

The knowledge, versatility and dedication of our teams lie at the heart of our success. Our people are industry insiders, who are able to see beyond a company’s current footprint and deliver ambitious transformation.

Our core business is divided into:

Sector Teams

Sector Teams

 

Our sector teams apply their specialist expertise to four key sectors at the heart of global economic activity:

  • Food & Consumer
  • Business Services
  • Industrial Goods & Services
  • Healthcare
Sector Teams
Country Teams

Country Teams

 

Our country teams are based across seven offices globally, encompassing multiple regions:

  • DACH
  • Italy
  • Luxembourg
  • Nordics
  • Spain
  • UK
  • US
Country Teams
Mid-Market Team

Mid-Market Team

 

Our Mid-Market Fund Team has a superior capacity to transform niche champions owing to its deep integration in the PAI ecosystem, which brings cutting-edge platform resources to mid-market companies.

Our team has the advantage of a country fund and is able to leverage a local network to source investment opportunities and drive growth through internationalisation.

Mid-Market Team
PAI Performance Group (PPG)

PAI Performance Group (PPG)

 

The PAI Performance Group (PPG) consists of operational specialists providing deep expertise in critical functions such as Operations, Pricing, ESG, Digital, and Talent. The group helps management teams of PAI portfolio companies deliver sustained improvements in performance.

Made up of more than 17 professionals, the PPG assists portfolio company management teams in developing tailor-made value creation plans, as well as contributing to the identification of specific operational levers and participating in their implementation.

The team also ensures that best practices and learnings are shared across portfolio companies. Since 2011, the group has organised regular gatherings between top portfolio executives on specific topics including Sustainability, HR, Finance and Digital.

PAI Performance Group (PPG)
Client & Capital Group

Client & Capital Group

 

We maintain a comprehensive approach to client service, with an emphasis on partnership and transparency. This is coordinated by a dedicated 17-person Client & Capital Group (CCG), which comprises both the Investor Team and the Capital Markets Team.

The CCG leads on primary fund relationships with limited partners and facilitates investor access across the capital structure, including equity co-investment and private debt.

The team is led by one of the co-managing partners and is responsible for all capital-raising activities, delivering a unique and best-in-class approach to capital formation for debt and equity capital partners.

Client & Capital Group

Connecting

Our people

Powered by our people’s expertise, knowledge and networks, we build lasting partnerships that deliver long-term value and returns for our portfolio companies and investors.
Meet our team

We are focused on building industry leaders

Learn more about us

Connecting

We use our global network to open doors for businesses, connecting them with markets, experts and opportunities that can help them thrive.

Partnering

Our business is founded on a culture of partnership – between management teams, investors, advisers and our own teams.

Transforming

We drive real change for our portfolio companies, from operational improvements to strategic market expansion.
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© PAI 2026 | PAI Partners 2019 | PAI SAS: Registered in France No. 904 479 649, PAI SAS is a fund management company approved and regulated by the AMF in France (approval number GP-20240001). PAI Partners S.à r.l. : Registered in Luxembourg No. B136689. PAI Partners S.à r.l. is a fund management company approved and regulated by the CSSF in Luxembourg (approval number N. A00000625). PAI Partners (UK) Limited: Registered in the United Kingdom No 04015677. PAI Partners (UK) Limited is a financial advisory company approved and regulated by the FCA in the United Kingdom (approval number 984663). PAI and PAI Partners are registered trademarks.

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