Ipex envisages value being created and ultimately realised over three stages:

1. The innovation stage
2. The building stage
3. The realisation stage

Ipex works very closely with PA Consulting at stages 1 and 2. Many of Ipex Capital's investments have arisen from innovations within PA’s Product and Process Engineering, and Wireless Technology practices. Once a suitable innovation has been identified, Ipex then works with PA to explore the feasibility of the opportunity in more detail and, when warranted, help the entrepreneurs to build a business plan. If Ipex deems that the opportunity justifies further investment, then a recommendation is put forward to Ipex’s Investment Committee.

Over the course of stage 2, Ipex works with PA and, progressively the entrepreneurs, towards reaching agreed milestones. The milestones cover all aspects of the business and are crucial if the ventures business plan is to be achieved.

Preparation for sale of the venture (often referred to as an “exit”) usually begins a long time before a deal takes place. Once an exit is feasible, Ipex evaluates the sale options, leads the negotiations, and manages any advisers that are appointed.