Criteria

All businesses are unique and no business is perfect, but ideally we'd see characteristics that broadly align with the below:

Company

Durable demand for the product or service, evidenced over many years
Committed, trustworthy and aspirational team seeking to develop the business into the future
Headquartered in the UK

Industry

Sector agnostic, but where competition is based on quality not price
Simple and understandable business model
Low risk of adverse regulatory changes

Financial

Robust revenue quality (low customer concentration, high repeat business)
Consistently profitable through economic cycles
£0.75m to £5.0m of EBITDA
Track record of strong cash flows

Owner Dynamics

Proud of the business they've grown and keen to secure their legacy
Motivated to navigate succession with minimal disruption to the team, culture or customers
Concentrated ownership
Flexible about remaining involved for a period post-completion