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Backing Management
"The right team for us to back is one which combines intimate knowledge of the asset we're buying, business acumen, integrity and the motivation to create wealth. When we find a team like this we should invest - every time!"
This is a belief to which most investors at least pay lipservice.
But it seems to be easy to forget, since our industry has to
relearn it so often. During bull phases of the cycle especially,
capital providers are prone to the fantasy that they can create
wealth all by themselves, by targeting the right sector, by having
the right strategy, or by “adding value” to the company
operationally. At Montagu we know what really matters. Yes, we can
add value by suggesting an exit strategy, by putting innovative
financing in place, and by participating in the strategic debate.
But it is the quality of the management that counts. Of course, like any good marriage, our relationship with the management will involve disagreement and (sometimes) hard negotiation. We are not spellbound by any sort of "cult of management" and have no time for “celebrity CEOs”.
But our experience has taught us this: we are in the hands of management, and the man or woman we back is far, far more important than the market he or she operates in, or the strategic plan we are hoping to implement.
Chris Masterson
Chief Executive
But it is the quality of the management that counts. Of course, like any good marriage, our relationship with the management will involve disagreement and (sometimes) hard negotiation. We are not spellbound by any sort of "cult of management" and have no time for “celebrity CEOs”.
But our experience has taught us this: we are in the hands of management, and the man or woman we back is far, far more important than the market he or she operates in, or the strategic plan we are hoping to implement.
Chris Masterson
Chief Executive