“We’re buying into companies where we believe active engagement will improve results,” says Radzyminski.

Nicholas Gold, a special advisor at boutique corporate adviser Pottinger, has defended management against attacks by firms such as Sandon. He labels such self-proclaimed activist investors as “turkeys” and “vultures.”

Such funds “want to be bought out and to move on,” says Gold.

Radzyminski rejects such labels.

“It is a rare thing that there is malice in the targets. But sometimes it takes someone from the outside to point out an alternate route,” he says. “We get out of a position but we don’t leave everyone else high and dry.”

Radzyminski, who views Sir Ron Brierley and Gary Weiss as iconic investors, wants to raise more money for Sandon.

“We need to find investors who believe in what we’re doing,” he says.