our business model hero

Our business model



We are customer focused

Targeting attractive end markets where we are best placed to drive growth and profitability with compelling and differentiated offerings.

We create operational leverage

Improving profitability as we grow.

We have active portfolio management

Optimising our assets, supported by active portfolio management and synergistic acquisitions.

We are focused on delivering value beyond measure for all our stakeholders.
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Our resources

Winning technology and brands

Our products use high-quality, innovative technologies which are award-winning, increasingly focused on helping our clients achieve their sustainability objectives, and have strong, recognisable brands.

Financial strength

Spectris is a highly cash-generative, asset-light business with a strong balance sheet and a disciplined and rigorous approach to capital allocation.

In-depth expertise

We have a highly-qualified team of people who have in- depth product, application and industry expertise in their sectors.

Valued suppliers and partners

Our global supply chain and partners are an essential and integral part of our business.

Strong customer relationships

We build strong, collaborative customer relationships, underpinned by a deep understanding of our customers’ businesses.

Clear values and culture

Our Values underpin the way we work, guide our decision making and shape our culture.


We have a devolved operating model, with core capabilities embedded in our operating companies and a lean head office.

Lean head office

At a Group level, we drive a consistent approach to:

  • Developing our talent and leadership
  • Performance management
  • Underpinned by a strong ethics and safety culture.
Our business divisions
  • Spectris Scientific - Malvern Panalytical and Particle Measuring Systems
  • Spectris Dynamics - HBK
  • Other - Servomex and Red Lion
Our core capabilities
  • Customer knowledge
  • Sales expertise
  • Strong domain knowledge
  • Application and technical expertise
  • Commercial excellence
  • R&D effectiveness
  • G&A efficiency
  • Acquisition integration
Spectris Business System

The Spectris Business System has been put in place to drive continuous performance improvement and increase profitability, following Lean principles.

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business model full bleed image

Our financial model

We are an asset-light, highly cash-generative business. We operate a rigorous and disciplined capital allocation process.

How we use this capital

Appropriate capital structure

Our target balance sheet leverage will be 1-2x EBITDA

1. Mantaining the business
  • Maintenance capex
  • Maintenance R&D (product refresh)
2. Growing the business organically
  • Growth capex
  • Growth R&D (new products and technology)
  • Working capital
3. Growing the business inorganically
  • Acquisitions
4. Returning surplus capital to shareholders
  • Special dividends
  • Share repurchases

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Benefits to our stakeholders


We ensure that our culture openly reflects our values and meets the expectations of our people. We are committed to creating the best possible working environment and culture where our employees can thrive.


We believe that our suppliers should have the opportunity to benefit from their relationship with us, working together with shared purpose and values.


We are committed to creating a positive legacy in our communities. The Spectris Foundation will enhance and improve our charitable giving to support them.


Our hardware, software, services and solutions allow our customers to manufacture and develop new products that make the world cleaner, healthier and more productive.


We work to ensure the long-term success of the Group to deliver enhanced shareholder value through our financial performance and capital distributions.

Our sustainability strategy

Our purpose is driven by our commitment to being a sustainable business partner, investment proposition and employer.

Our sustainability strategy sets a clear line of sight to key commitments around our people, the environment and our operations, to ensure that our strategy and operations align with our values.

  • Reflecting our Values in how we do business, taking a balanced, socially responsible approach
  • Providing long-term, rewarding careers in a safe and inclusive working environment
  • Taking our environmental responsibilities seriously

Discover more

our model sustainable strat
our model sustainable strat


Our focus is underpinned by a detailed materiality assessment that defines and prioritises the issues that matter most to our stakeholders. To support our focus, the Board has adopted three UN Sustainability Development Goals to inform our strategy, enable prioritisation and planning.