Institutional sponsor currently in fund, targeting cash generative businesses with strong governance. Focus on automation, robotics & controls within manufacturing & engineering, where revenue quality and customer retention are evidenced. Investor is currently in fund with committed capital for near term execution. Previous acquisitions include buy and build programmes in established sectors, supported by operating partners. Valuation discipline will be applied, driven by cash generation and resilience through cycles. Looking for a practical handover with sensible seller support where required. North American buyer targeting opportunities in UK..