Investor Summary
Fund Strategy
FUND PERFORMANCE AS OF 31st March 2026
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RD Capital Partners is a family office investment firm making long-term control investments in UK businesses since 2015. The firm focuses on acquiring companies with strong fundamentals, sustainable growth opportunities, and EBITDA between £2m-£20m. Their investment philosophy emphasizes patience, responsibility, and sustainable growth rather than short-term gains. The portfolio includes 9 platform companies across 4 sectors with £650m enterprise value and 2000+ employees. Key holdings include RDCP Care, which operates 20 freehold nursing homes and has expanded dramatically since 2017 with 95% of homes rated Good or above by CQC, and RDCP Electrical, an electrical distribution business that has grown from 6 to 18 branches through a disciplined buy-and-build strategy. The firm maintains strict investment criteria including profitable history, recurring revenue models, committed management teams, and simple business models with high barriers to entry. Their approach combines operational discipline with strategic oversight to create lasting value for all stakeholders.
RD Capital Partners invests permanent capital in UK businesses with strong fundamentals, taking a long-term ownership approach focused on operational improvement, strategic guidance, and sustainable value creation through patient capital deployment.
The firm continues to seek profitable businesses with strong market positions to strengthen their portfolio through long-term value creation, maintaining their disciplined investment approach focused on sustainable growth.
| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Jun 1 2026 | 2026 Q1 | - | Buy-and-Build, healthcare, industrials, long-term, private equity, Uk | - | RD Capital Partners deploys permanent capital into UK businesses with strong fundamentals, focusing on healthcare and industrial distribution. Their portfolio demonstrates successful execution with RDCP Care expanding from 2 to 20 nursing homes and RDCP Electrical growing from 6 to 18 branches through disciplined buy-and-build strategies, creating sustainable value through long-term ownership. |
| Dec 29 2025 | 2025 Q4 | - | Compounding, Control, liquidity, Permanentcapital, Resilience | - | RDCP grew enterprise value 8% to $650 million in 2025 while transitioning from leverage-dependent growth to permanent capital investing. The firm operates 10 companies across healthcare, industrials, and consumer sectors, prioritizing deleveraging and cash generation. With 73.9% ten-year returns, RDCP focuses on boring, recurring revenue businesses with strong managers and long-term compounding potential. |
| Dec 26 2024 | 2024 Q4 | BST.L, PSX, TRMCF | Acquisitions, Construction, consumer, Engineering, growth, healthcare, industrials, United Kingdom | - | RDCP delivered 20% enterprise value growth through strategic acquisitions in UK industrials while disposing underperforming assets. The diversified holding company targets £50m EBITDA by 2025 through continued buy-and-build strategy across construction, electrical distribution, and engineering services. Permanent capital structure and focus on retiring business owners provides competitive acquisition advantage in fragmented UK middle market. |
| Dec 30 2023 | 2023 Q4 | - | Buy-and-Build, Engineering, growth, healthcare, Manufacturing, private equity, Uk, value | - | RDCP grew enterprise value 25% to $500m in 2023 through strategic acquisitions in manufacturing, healthcare, and engineering while maintaining perfect investment record. Despite challenging macro conditions with peak rates and inflation, the firm demonstrated portfolio resilience and shifted focus to sustainable growth targeting $1bn enterprise value by 2025 through disciplined capital deployment and eventual US expansion. |
| Dec 27 2022 | 2022 Q4 | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2026 Q1 |
HealthcareRDCP Care operates 20 freehold nursing homes across the Midlands and North Wales, expanding from 2 homes in 2017 to 20 by 2025. The business has achieved 95% of care homes rated Good or above by CQC, with occupancy increasing from 80% to 93% and resident satisfaction scores improving from 7.8 to 9.4/10. |
Healthcare Senior Care Nursing Homes CQC Occupancy |
IndustrialsRDCP Electrical operates 18 distribution branches across the UK specializing in industrial, commercial, and renewable sectors. The business has grown through a buy-and-build strategy, expanding from 6 branches in 2022 to 18 in 2025, with revenue growing from £30m to £40m and debt levels reduced by 80%. |
Industrials Electrical Distribution Buy-and-build UK Revenue Growth | |
| 2025 Q4 |
HealthcareRDCP significantly expanded its healthcare platform through the acquisition of Monarch Healthcare, adding 12 freehold nursing homes to create a 20-home portfolio valued at £100 million. The firm also made its first US investment through STAR Capital Care, a 6-home nursing portfolio. Healthcare represents RDCP's longest-standing sector focus since 2015. |
Nursing Homes Elderly Care Healthcare Real Estate Freehold Properties CQC Ratings |
Consumer StaplesRDCP acquired DJL Petfoods, the UK's leading supplier of pet food ingredients to premium manufacturers. The business benefits from structural advantages including deep customer embedding, exceptional retention rates, and barriers to entry through regulatory accreditation and supplier relationships. Management sees significant opportunity through product range expansion and European market growth. |
Pet Food Ingredients Distribution Supply Chain GMP Accreditation Customer Retention | |
Private CreditRDCP is deliberately pivoting away from leverage-dependent growth models toward equity-funded expansion. The firm is actively deleveraging existing portfolio companies and building substantial group cash balances to reduce reliance on external debt. This represents a fundamental shift from RDCP 1.0 to RDCP 2.0 strategy. |
Deleveraging Debt Reduction Capital Structure Liquidity Management Permanent Capital | |
ValueRDCP's evolution mirrors Warren Buffett's transition from cigar-butt investing to quality businesses at fair prices. The firm is shifting from price-first, quality-second acquisitions toward wonderful businesses with durable economics, strong leadership teams, and long compounding runways. This represents their transition from a cigar-butt era to a See's Candies era. |
Quality Businesses Durable Economics Compounding Fair Prices Long-term Ownership | |
| 2024 Q4 |
ConstructionRDCP acquired MCS Group, a UK infrastructure and construction main contractor with £130m revenue and £8m EBITDA, specializing in industrial and commercial projects. The business has strong client retention of 70% and plans to scale revenues to £140m by FY26. This acquisition solidifies RDCP's entry into the UK main contractor construction sector. |
Infrastructure Commercial Industrial Contractor Projects |
Energy TransitionLinks Electrical acquisition expands RDCP's renewable energy focus, particularly in solar solutions with over 5,000 solar panels in stock and a dedicated solar warehouse. Grayton is involved in Net Zero projects including lithium-ion battery production, carbon capture and storage, and bioethanol plant efficiency improvements. The renewable energy sector represents a key growth area for the portfolio. |
Solar Renewable Battery Carbon Capture Net Zero | |
Electrical EquipmentRDCP's electrical distribution strategy centers on the buy-and-build approach through RDCP Electrical, which now operates £40m turnover across 17 branches following the Links Electrical acquisition. The business covers traditional electrical products and expanding renewable energy solutions across England and Wales. |
Distribution Electrical Renewable Solar Products | |
Industrial ServicesGrayton provides mechanical engineering services for maintenance, installation, and diagnostics of industrial rotary equipment serving steel, cement, chemicals, oil and gas, food, and power sectors. The company operates from a 4-acre site with advanced fabrication facilities and serves blue-chip customers including British Steel and Phillips 66. |
Engineering Maintenance Industrial Equipment Manufacturing | |
| 2023 Q4 |
ManufacturingRDCP made significant investments in UK manufacturing through acquisitions of Pexion Group (precision engineering with 14 subsidiaries) and Majestic Windows Group (windows and doors manufacturing). The manager views manufacturing as strategically important despite sector challenges from reduced consumer spending, noting it was a real win to complete the Majestic acquisition when they did. |
Precision Engineering Windows Manufacturing UK Industrial Buy-and-Build |
HealthcareThe firm expanded its healthcare portfolio through the acquisition of Coton Care Group, adding two care homes with 56 beds to RDCP Care. The manager describes RDCP Care as the most resilient, robust and reliable portfolio company in their portfolio, expressing continued excitement about the UK care sector. |
Care Homes Senior Care Healthcare Services UK Healthcare Resilient Business | |
EngineeringEngineering represents a core focus through the Pexion Group acquisition, which provides precision and electronic engineering solutions to aerospace, defense, oil and gas, automotive, power generation and medical industries. The acquisition gives RDCP immediate access to UK precision engineering sectors with high barriers to entry. |
Precision Engineering Aerospace Defense Automotive High Barriers |
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