Our strategy is to generate shareholder value through growing the core business by maximising revenue growth, supported by selective product development and value enhancing acquisitions.


Growing the core


We are recognised as the leader within our chosen market segments. There are further opportunities to maximise growth from our product and service portfolio through:

  • Leveraging the product and customer base
  • Responding to customers' growing needs
  • Offering new models and solutions
  • Expanding our reach through distribution
  • Enhancing our commercial effectiveness
  • Continuing focus on operational excellence

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Selective Product Development


We have a reputation for technological excellence and innovation, with a strong tradition of new product development. We see organic growth opportunities through:

    • Moving up the value chain in respiratory protection
    • Enabling technologies and integrated systems

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Value enhancing acquisitions


We are targeting carefully selected value enhancing acquisitions within Avon Protection to complement our organic growth:

Commercial Criteria

    • Strong brand recognition
    • Technology which broadens our product range
    • Expands our geographic reach
    • Secure revenue streams or another source of profitable growth
    • Strong management

Financial Criteria

  • EPS enhancement
  • Organic revenue growth, margins and cash conversion potential in line with our strategic growth objectives
  • Returns exceeding our WACC
  • Post-acquisition net debt to EBITDA less than two times
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