Acquiring & growing exceptional SMEs
We work with SME founders and business owners who have built something exceptional and want to see it thrive beyond their tenure — providing the capital, expertise and long-term commitment to make that happen.
Our investors are experienced, long-term oriented family offices and private individuals — partners who share our belief in the value of exceptional SMEs and our commitment to building businesses over the long term.
The opportunity
I - Long-term committed capital
We are taking a long-term view and hold businesses for 7 to 10 years. We back companies through every stage of growth. Our returns come from building great businesses, not financial engineering
II - Fair and transparent process
III - A home for businesses that deserve to grow
We approach every deal with straightforward terms and honest valuations. Our goal is a transaction that works for both sides: one that respects what the seller has built and sets the business up for its next chapter
Many exceptional businesses never reach their potential simply because their owners lack the capital or bandwidth to pursue the next step. We provide both — along with the operational and strategic support to act on opportunities in adjacent markets or geographies
IV - Structured for security on both sides
We work with flexible deal structures (including vendor notes, earn-outs and partial reinvestment) so sellers can choose the right exit for their circumstances, with terms that reflect the quality and resilience of what they've built
What we look for
Company & Market
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EBITDA between £0.5M and £5.0M
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Company with a loyal, established customer base
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Industry agnostic - stable and resilient market
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No declining maket & relatively good pricing power
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Fragmented with add-on acquisition potential
Transaction & Process
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Majority stake acquisition
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Retirement or succession-driven sale
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Second-tier management team in place and available to support transition
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Potential for reinvestment from the seller (equity or vendor loan)
Four clear value creation levers
Expanding into new markets
Strengthening operations
We work hands-on with the businesses we back by identifying quick wins and longer-term improvements that professional management and fresh perspective can unlock. Most founder-built businesses have significant untapped potential
We help businesses pursue growth opportunities they may already have in mind but haven't had the capital or bandwidth to act on, whether that's a new geography, an adjacent sector, or a bolt-on acquisition
Building for the long term
Patient, responsible financing
We invest in the management, processes and structure that give a business the foundations to scale, reducing reliance on any one individual, making the company stronger and more resilient over time
We use conservative leverage and structure deals carefully, so the business is never overburdened with debt and can focus on growing rather than servicing loans
Two individuals who decided to team up and co-founded Frejus Capital
We welcome conversations with founders & intermediaries
Whether you are a business owner, an intermediary with a relevant mandate, or an investor looking to co-invest - we would be glad to speak