What we look for
We invest in profitable, founder-built UK businesses with management in place, recurring demand, durable relevance and strong cash conversion. We can take a controlling or significant stake, depending on what works for the founder.
A few principles guide every decision
The qualities we look for
Profitable today
Already profitable and cash-generative, where operational improvement is upside rather than a requirement for survival.
Recurring demand
Revenue from repeat, maintenance, compliance-driven or consumable demand, not one-off projects that must be recreated each month.
Management in place
A credible leadership layer or second-in-command able to run day-to-day operations through a structured founder transition.
Beyond the founder
The business can operate without the founder as its daily operating system, with customer goodwill that belongs to the company.
Durable, essential sectors
Boring, useful sectors likely to remain relevant over the next five to ten years, linked to maintenance, compliance or production.
Diversified customers
Recurring customers and long-standing relationships, with no single client representing a critical share of revenue.
Simple operations
A clear model from enquiry to quote to delivery to cash that can be understood quickly and explained in a sentence.
Strong cash conversion
Accounting profit that translates reliably into operating cash flow, with manageable capex and working capital.
Low liability risk
Limited legal, environmental and regulatory exposure, with appropriate insurance and a clean health and safety record.
Where we focus
- Target EBITDA
- £250k–£1.5m
- Geography
- United Kingdom
If this sounds like your business, let’s talk
Initial conversations are always confidential and obligation-free. We work with founders and intermediaries across the United Kingdom.
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