Caledonia Private Capital is the direct investment arm of Caledonia Investments and our focus in on acquiring majority or significant minority stakes in privately owned companies, purely based here in the UK. Focused on investing in mid-sized companies with enterprise values of between £100m and £250m, we work with growing, cash‑generative businesses, collaborating with experienced management teams to boost the performance of companies that are already robust and resilient. Sector-agnostic, we apply rigorous investment criteria to identify businesses with a profitable track record and the potential to grow strongly with our support. Flexibility and patience are the bedrock of our philosophy. We think long-term, supporting our portfolio companies and partnering with management teams throughout our ownership to generate lasting, sustainable value. Together, we look to deliver strong capital growth and a running yield throughout the business cycle. "Caledonia Private Capital's record demonstrates the attractiveness of our unique proposition to investee companies: providing enduring capital and support through a long-term partnership". Tom Leader, Head of Caledonia Private Capital Caledonia Private Capital is one of three divisions within Caledonia Investments plc., a London Stock Exchange-listed investment trust with net assets of £2.8bn. www.caledoniaprivatecapital.com