A team assessing an acquisition opportunity around a table

Acquisition Criteria

What we buy, and what we do not.

We acquire profitable, digital-first businesses that are already trading and already making money. We are not a fund looking for a turnaround and we are not buying ideas.

The businesses that suit us best usually have one thing in common: they work, and they have stopped growing for reasons of capacity rather than product or market. A founder doing three jobs. No sales function. An audience or customer base that has never been properly monetised. That gap between what the business is and what it could be is the part we are buying.

Below is what we look for. If your business does not tick every line, it is still worth a conversation - the list describes the shape of a fit, not a scoring system.

Two colleagues assessing a business against acquisition criteria
01
What we look for
  • Profitable, with an established trading history
  • Owner-operated or lightly managed
  • Clear, single ownership and clean IP
  • Revenue that is recurring or repeatable
  • Digital-first delivery and operations
  • Documented enough to hand over
02
What we like to see
  • Diversified traffic and revenue
  • A team that wants to stay
  • Accounts we can rely on
  • A defined niche rather than a broad market
  • An under-monetised audience or customer base
  • A founder who wants a clean, fair process
03
Not for us
  • Pre-revenue or concept stage
  • Loss making turnarounds
  • Businesses resting on a single platform loophole
  • Regulated activity requiring licences we do not hold
  • Unclear or disputed ownership
  • Anything built on non-consented data

The sectors we buy in

Other sectors we consider

Digital marketing agencies are what we buy most often, but a profitable, well run business in any of the areas below is still worth a conversation.

Content & Media Businesses
Publishers, niche content sites and digital media brands with an audience that keeps coming back
Ecommerce & DTC Brands
Profitable online retail and direct to consumer brands with real products and repeat customers
SaaS & Subscription
Software and subscription businesses with paying customers, low churn and a product that solves one problem well
Marketplaces & Lead Generation
Two-sided marketplaces, directories and lead generation businesses that connect buyers with suppliers
Newsletters & Audience
Email-first media, communities and paid memberships where the audience relationship is owned, not rented
Advertising & AdTech
Agencies, ad networks, representation businesses and advertising technology with recurring client relationships

Not sure whether your business is a fit? Tell us about it and we will give you a straight answer.

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