principals, in the creation, growth and successful sale of new companies. They have specialised in energy, network systems and technology businesses and since 1990 have jointly founded, managed and developed a number of such companies in the UK and Europe. In each case the founders have created significant value in the new entities and, when appropriate, have secured exit route through trade sale or merger. The typical investment cycle time, taking the company from foundation to exit, has been 3-6 years. Each company has, at the time of sale, commanded a premium price, the buyers recognising value, not only in the high quality cash flows and the strong physical and technological asset base, but also in the strategic positioning of the new business.