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3 top mid cap ASX growth shares to buy in August

One area of the market which I continue to believe is home to a large number of quality options for investors is the mid cap space.

Three top mid cap shares which I believe could one day become much larger entities are listed below. Here’s why I think they would be great long-term investments:

Bravura Solutions Ltd (ASX: BVS)

A failed takeover approach for GBST Holdings Limited (ASX: GBT) has led to the shares of this leading provider of software and services to the wealth management and funds administration industries falling heavily. Whilst the failed approach is disappointing as the two businesses combined would have been a real force, I still believe Bravura Solutions has outstanding long term growth potential thanks to its increasingly popular Sonata wealth management platform. This could make it worth taking advantage of the pullback and buying shares with a long term view.

Collins Foods Ltd (ASX: CKF)

Another mid cap growth share to consider buying is this quick service restaurant operator. Collins Foods is one of the largest operators of KFC stores in the world. It has a growing network of restaurants across Australia and in the under-penetrated European market. It is the latter market, combined with its Taco Bell roll out in Australia, that I expect to underpin solid earnings growth over the next decade. In FY 2019 the company reported a 16.9% increase in revenue and a 15.7% increase in underlying net profit after tax. I believe it is well-placed to continue this solid form in FY 2020.

Nanosonics Ltd (ASX: NAN)

Nanosonics is the infection control specialist behind the increasingly popular trophon EPR disinfection system for ultrasound probes. I’m a big fan of the company due to the quality of the product and the recurring revenues it generates from consumables sales. Given  its massive market opportunity and management’s plan to launch several new products targeting unmet needs in the near term, I believe Nanosonics is well-positioned to continue its strong growth for many years to come.

And here is a fourth mid cap growth share which has been making waves on the Australian share market in 2019.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Nanosonics Limited. The Motley Fool Australia has recommended Collins Foods Limited and GBST Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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