Specialty distribution & Technical Services
We invest in specialist distributors and technical services businesses that combine specialist products with expert advice, design, installation and maintenance.
Astorg
Business Services
We invest in leading Business Services companies in attractive international markets.
Our focus is on resilient businesses whose specialist expertise, recurring revenues and strong competitive positions create multiple opportunities for long-term value creation and disciplined buy-and-build strategies.
~10%
Investible market
Overview
Focused Business Services investing and creative dealmaking
We concentrate on a carefully selected subset of a vast market, where our expertise, industry networks, tailored transaction structures and repeatable value creation playbooks create an advantage.
We invest through two complementary deal archetypes: high-quality businesses with strong organic growth and structurally differentiated global offerings; and buy-and-build platforms in fragmented markets where repeatable M&A can create international leaders.
Across both, we partner with management to drive commercial excellence and operational improvement. For high-growth businesses, M&A is focused and strategic ; for buy-and-build platforms, it is a core, scaled and repeatable value-creation lever.
Business Services sub-sectors
Where we focus
Business Services is broad, so our focus is selective. We concentrate on four specialist subsectors, representing c.10% of the broader investable market, where long-term growth, recurring revenues and resilient demand create attractive opportunities.
Our sector expertise, networks and thematic sourcing help us identify differentiated businesses and support their growth into international market leaders.
Business services sub-sectors
Professional & Financial Services
We back specialist firms helping customers address financial, regulatory and operational complexity.
Testing, Inspection, Certification (TIC)
We invest in testing, inspection and certification businesses that play a critical role in ensuring compliance with increasingly demanding quality, safety and regulatory standards.
Data & information
We invest in businesses that transform data into essential market intelligence.
"In fragmented Business Services markets, we use disciplined, repeatable buy-and-build programs to expand geographic reach and capabilities, creating stronger and more differentiated international leaders."
James Davis, Partner
Head of Business Services Flagship
Business services portfolio
Meet the Business Services Team
Our dedicated Business Services professionals[ML8.1][AP8.2] combine investment experience with deep specialist market knowledge developed over many years. Supported by collaboration across our Flagship and Mid-Cap teams, they work alongside management to identify opportunities early, structure tailored transactions, shape value creation plans and build resilient international businesses.
Latest Business Services News
ViewMore
Astorg Mid Cap to acquire Barkene, a leading multi-specialist B2B technical services platform
ViewMore
Astorg raises a €1.4 billion Continuation Fund in partnership with CVC Secondary Partners, Pantheon, Lexington Partners and Eurazeo to support portfolio company Normec
ViewMore
Normec acquired DETS & Latis, solidifying its leading position in the UK environmental testing market and further strengthening its pan-European leadership within the TICC sector
ViewMore
