How to build a search fund thesis, then 15 theses tested against our data: the PURSUE targets in the £250k–£5m band, how old their owners are, and the buy-and-build platforms already buying. Niche business-to-business manufacturing has the most, with 431.
Pick one of our theses, add the regions, EBITDA band and owner age you buy, and see which UK companies fit. The free trial includes 3 unlocks to reveal the companies behind the matches.
Build your buy boxEvery search starts with a thesis: a short, testable statement of the kind of business you want to buy and why. A good one tells you which companies to call and which to ignore. A weak one sends you into thousands of conversations with owners who were never going to sell you anything worth owning.
This article starts from the principles that make a business a good first acquisition, turns them into three questions you can ask of any thesis, and then tests 15 common UK theses against our data. For each one we show what the businesses do, how the market is consolidating, which buy-and-build platforms are already buying, and how many targets are left. Every thesis ends in a link that opens our buy box with that thesis already picked.
Start with the whole market. Of the 6,056 companies our model rates PURSUE with £250k–£5m estimated EBITDA, 2,088 (34.5%) sit in one of these 15 theses. The inner ring below is the sector each target trades in; the outer ring is the thesis it belongs to, each company counted once.
| Sector | Targets, £250k–£5m | In one of our theses | By thesis |
|---|---|---|---|
| Construction & Trades | 1,040 | 159 | Building services maintenance 90; Fire and security systems 29; Testing, inspection and compliance services 22; Heat pump, solar and energy services 18 |
| Manufacturing | 871 | 431 | Niche business-to-business manufacturing 431 |
| Professional Services | 640 | 350 | Accountancy, legal and advice practices 219; Engineering, surveying and environmental consultancy 106; Testing, inspection and compliance services 25 |
| Healthcare | 513 | 445 | Care and education 233; Clinician-led healthcare 143; Day nurseries and early years 69 |
| Wholesale & Distribution | 506 | 225 | Specialist business-to-business distribution 225 |
| Facility & Field Services | 246 | 102 | Fire and security systems 48; Facility services 37; Building services maintenance 17 |
| Technology | 171 | 57 | Software for one industry 44; Managed IT and business telecoms 13 |
| IT & Tech Services | 121 | 47 | Managed IT and business telecoms 47 |
| Financial Services | 118 | 64 | Financial advice and insurance broking 64 |
| Education & Training | 105 | 38 | Care and education 22; Day nurseries and early years 16 |
| Other sectors (Automotive, Hospitality & Leisure, Logistics & Fleet Services and Retail, and trades with no sector) | 1,725 | 145 | Not split by thesis |
| 2,088 of the 6,056 targets (34.5%) sit in at least one of our 15 theses. | |||
Search funds buy businesses that are already profitable and doing well. They do not buy turnarounds: a first-time chief executive with a lender to repay needs a business that works on the day they arrive. London Business School's guide to search funds lists the criteria most searchers screen for, which we paraphrase here:
Those principles describe a business, not a market. A thesis turns them into a definition you can search: a set of trades where the typical company has recurring income and light capital needs, where the owners are reaching retirement, and where you, as a buyer, have a credible story for why you are the right next owner. The best theses are narrow enough that you become known to the owners in them, and wide enough that you will not run out of companies to call.
How many targets are there? A thesis has to contain enough good, owner-run companies of the right size. We count the companies our model rates PURSUE: a sound business showing signals that its owner may be ready to sell, not owned by another company. We give the count at any size and in the £250k–£5m estimated EBITDA band we use for search fund targets.
Who else is buying? Buy-and-build platforms, most of them backed by private equity, are both your competition and, later, a likely buyer of what you build. A thesis with no platforms in it may be overlooked, or it may be a market nobody can make money consolidating. A thesis full of them will be priced higher, but it proves that buyers pay for the businesses you are about to build. We name the platforms with UK deals in each thesis since January 2025, as filed at Companies House.
Are the owners ready? The last of the six criteria is the one a searcher has least control over. We use the age of the oldest person on each company's register of people with significant control as the simplest measure of how many owners are approaching retirement.
A thesis is where a search starts, not where it ends. Searchers who get from a thesis to a signed deal tend to work through the same four steps. Our data can carry part of each one, and below we say which part it cannot.
1. Filter. Start wide and cut hard. The first screen is "The 15 theses at a glance", further down this page, which sets the theses side by side on the three questions above. Three results knock a thesis out early: too few PURSUE targets in the £250k–£5m band to fill a search, a low share of owners aged 60 or over, and a market so crowded with platforms that you would bid against them for every good company. The second screen is our buy box: pick a thesis, add the regions you can cover and the EBITDA band you can fund, and see how many PURSUE companies are left. A thesis that looks large across the country can shrink a long way once it is cut to the area you can reach.
2. Deep dive on two or three. Take the theses that survive and learn each market properly. Our sector pages show where the targets sit and how the trades compare. Our ranking of UK buy-and-build niches measures how far consolidation has gone in each trade, and our compliance buy-and-build article works through one market in depth. Who is buying shows the platforms already buying in each thesis. Our sample report shows what we read from one company's accounts: its margins against the sector median, the risks we found and how its owner might be approached. What data cannot tell you is how the trade really works. Conversations with owners, managers, customers and suppliers in the trade remain your own work, and they are what makes the next step credible.
3. The pitch. Most searchers raise their money with an investor memo that argues for one thesis. The figures in this article belong in it: the size of the target pool by EBITDA band, the share of owners aged 60 or over, the platforms already buying, and the typical margins in the trade, which our company reports compare with similar companies in the same sector. For niche business-to-business manufacturing, the largest pool on our list, the memo line would read: 431 companies our model rates PURSUE in the £250k–£5m band, 75.2% of them with an owner aged 60 or over, and platforms such as Teqnion with at least 5 UK deals since January 2025, as filed at Companies House. Quote platform deals as a floor from the public register, never as a ranking of one buyer against another.
4. Sourcing. Once investors back the thesis, the work becomes finding owners and talking to them. A Buy Box Licence names every PURSUE company inside your buy box for a year, and we email new ones to you as soon as we detect exit-readiness signals. Each company report has an Approach section on first contact with that owner: an analyst note, talking points and a draft first letter. The letters, calls and meetings that follow are yours.
The thesis map puts the three questions on one page. Further right, more of the owners are 60 or over; higher up, the named platforms have filed more UK deals since January 2025; a bigger bubble means more targets in the £250k–£5m band. The bottom right is where older owners meet fewer platform buyers. Switch to the table for every figure.
| Thesis | PURSUE targets, any size | In the £250k–£5m band | Band targets with an owner aged 60+ | Named platforms buying | UK deals by those platforms since January 2025 |
|---|---|---|---|---|---|
| Niche business-to-business manufacturing | 1,162 | 431 | 75.2% | 5 | 17 |
| Care and education | 1,620 | 427 | 65.1% | 6 | 43 |
| Accountancy, legal and advice practices | 1,059 | 285 | 50.9% | 6 | 40 |
| Specialist business-to-business distribution | 643 | 247 | 68.4% | 3 | 13 |
| Testing, inspection and compliance services | 423 | 157 | 49.0% | 8 | 49 |
| Clinician-led healthcare | 526 | 143 | 49.0% | 5 | 27 |
| Building services maintenance | 513 | 129 | 48.1% | 5 | 29 |
| Engineering, surveying and environmental consultancy | 376 | 114 | 50.0% | 3 | 10 |
| Day nurseries and early years | 592 | 85 | 69.4% | 8 | 46 |
| Heat pump, solar and energy services | 241 | 85 | 42.4% | 3 | 12 |
| Fire and security systems | 231 | 78 | 44.9% | 3 | 26 |
| Financial advice and insurance broking | 203 | 71 | 63.4% | 4 | 33 |
| Managed IT and business telecoms | 159 | 62 | 33.9% | 4 | 15 |
| Software for one industry | 138 | 47 | 59.6% | 7 | 27 |
| Facility services | 232 | 45 | 60.0% | 3 | 8 |
The theses are the presets in our buy box. Each is a set of whole trades and finer specialisms, read from each company's own description of what it does rather than from the industry code it registered at Companies House. Some overlap on purpose: fire and security sits inside the wider compliance thesis, and day nurseries inside care and education.
The theses run from the largest pool of £250k–£5m targets to the smallest; pick one to see its market, the platforms buying and the targets left. A larger pool is not a better thesis: the right one is the one you can explain to an owner and to your investors.
431 targets, £250k–£5m · 75.2% owner aged 60+ · 17 platform deals since 2025
Precision engineering, electronics, machinery, plastics, metal fabrication and scientific instruments. Once a part is designed into a customer's product, switching supplier is costly, accreditations and skilled staff are hard to copy, and many owners are a generation of engineers now near retirement.
Listed industrial groups, many from Sweden, buy UK niche manufacturers and keep them running under their own names. They pay for engineering know-how and loyal customers, which is the same thing a searcher should be looking for.
UK deals since January 2025, as filed at Companies House
Look at customer concentration, the age of the skilled workforce and how much capital the plant will need in the next few years.
Build a buy box with this thesis · Read more: our manufacturing sector analysis
427 targets, £250k–£5m · 65.1% owner aged 60+ · 43 platform deals since 2025
Care homes, home care, supported living, children's services, day nurseries and special needs schools. Demand is guaranteed by demographics and public funding, and a good operator with strong inspection ratings has waiting lists and pricing power.
Nursery groups have been the most active buyers, with private equity backed platforms buying single-site owners across the country. Care is more fragmented, and its buyers weigh staffing and inspection history above the accounts.
UK deals since January 2025, as filed at Companies House
These are among the most regulated businesses we track: inspection ratings, safeguarding history and staff retention matter more than any financial measure.
Build a buy box with this thesis · Read more: our healthcare sector analysis
285 targets, £250k–£5m · 50.9% owner aged 60+ · 40 platform deals since 2025
Accountancy firms, solicitors, financial advisers and insurance brokers. Annual compliance work such as accounts, tax returns and payroll recurs every year, clients rarely move, and many practices are owned by partners near retirement with no one lined up to take over.
Accountancy is perhaps the classic UK professional services consolidation, with private equity backed groups and owner-led acquirers buying practices every month. Law firm ownership rules shape how legal deals are structured.
UK deals since January 2025, as filed at Companies House
Look at fee income per client, the age of the partner group and whether the work depends on one partner's relationships.
Build a buy box with this thesis · Read more: our professional services sector analysis
247 targets, £250k–£5m · 68.4% owner aged 60+ · 13 platform deals since 2025
Distributors of specialist parts, equipment and supplies to trade customers. They win on stock range, credit relationships and next-day delivery, trade accounts move slowly, and scale buys better terms from suppliers.
Listed distributors buy specialist independents to widen their range, and owner-led groups are doing the same at the smaller end. Much of the market is still owner-run.
UK deals since January 2025, as filed at Companies House
Check how much depends on a few supplier agreements or a few large accounts, and how much working capital the stock ties up.
Build a buy box with this thesis · Read more: our wholesale and distribution sector analysis
157 targets, £250k–£5m · 49.0% owner aged 60+ · 49 platform deals since 2025
These firms carry out checks the law requires: servicing fire alarms and extinguishers, inspecting lifts, testing water for legionella bacteria, testing electrical wiring and surveying for asbestos. Most of the work comes round every year, and accreditation keeps newcomers out.
One of the busiest buy-and-build markets in the UK. Platforms buy local firms and sell their customers the other checks the group carries out, so a searcher bids against well-funded buyers, and builds what those buyers pay well for later.
UK deals since January 2025, as filed at Companies House
Check that the accreditations sit with the company rather than with one engineer, and how much of the work is under contract rather than one-off.
Build a buy box with this thesis · Read more: our compliance buy-and-build analysis
143 targets, £250k–£5m · 49.0% owner aged 60+ · 27 platform deals since 2025
Dental practices, veterinary surgeries, opticians, pharmacies, physiotherapy, hearing care, occupational health and private clinics. Patients come back on a regular cycle, goodwill survives a change of owner, and demand rises with an ageing population.
Dentistry and veterinary care were the template healthcare consolidations, and large groups set the price for practices. Remaining independents are scarcer and valued accordingly; the fragmented end is now physiotherapy, hearing care and private clinics.
UK deals since January 2025, as filed at Companies House
Check how dependent the practice is on its founding clinician and, for dental practices, how much income comes from health service contracts.
Build a buy box with this thesis · Read more: our healthcare sector analysis
129 targets, £250k–£5m · 48.1% owner aged 60+ · 29 platform deals since 2025
Firms that keep commercial buildings running: heating, ventilation and air conditioning, plumbing, lifts, electrical testing and water hygiene, usually under planned maintenance contracts. Customers are businesses, the work is needed in any economy, and qualified engineers are scarce, which protects the firms that already employ them.
Platforms backed by private equity are building national maintenance groups from regional specialists, and the move away from gas heating is adding replacement work across the installed base.
UK deals since January 2025, as filed at Companies House
Look at the split between contracted maintenance and project work, and at how dependent the firm is on one or two main contractors.
Build a buy box with this thesis · Read more: our analysis of UK cooling and refrigeration firms
114 targets, £250k–£5m · 50.0% owner aged 60+ · 10 platform deals since 2025
Consulting engineers, building and quantity surveyors, architects and environmental consultants. Professional credentials and places on clients' supplier lists are real barriers, infrastructure and property work is steady, and many firms are led by founders near retirement.
Environmental and ecology consultancy has drawn private equity platforms, and larger consultancies buy engineering and surveying practices to add skills and regions.
UK deals since January 2025, as filed at Companies House
This work follows the construction cycle, so check the order book and how much depends on the named founder.
Build a buy box with this thesis · Read more: our professional services sector analysis
85 targets, £250k–£5m · 69.4% owner aged 60+ · 46 platform deals since 2025
The narrower version of the care thesis: day nurseries and early years settings. Government-funded childcare hours underpin demand, and a well-rated setting in an area short of places can fill its rooms and set its fees.
Nurseries are one of the most heavily consolidated small-business markets in the UK. Private equity backed groups buy single-site and small-group owners steadily, so a searcher here competes with experienced buyers who know the sector.
UK deals since January 2025, as filed at Companies House
Check the inspection rating, occupancy by room and how much income depends on government-funded hours.
Build a buy box with this thesis · Read more: our healthcare sector analysis
85 targets, £250k–£5m · 42.4% owner aged 60+ · 12 platform deals since 2025
Installers of heat pumps, solar panels, batteries and car chargers, energy management and metering firms, and heating and cooling contractors. Net zero policy is a long-term tailwind, accreditations gate entry, and maintenance of installed systems adds a recurring layer.
The market is young and fragmented. Private equity backed heating and cooling groups are buying contractors, and installers with maintenance books are starting to attract them.
UK deals since January 2025, as filed at Companies House
Installation demand moves with grants and policy, so look for maintenance income that does not depend on the next subsidy scheme.
Build a buy box with this thesis · Read more: our analysis of UK cooling and refrigeration firms
78 targets, £250k–£5m · 44.9% owner aged 60+ · 26 platform deals since 2025
The narrower version of the compliance thesis: firms that design, install and maintain fire alarms, sprinklers, extinguishers, intruder alarms, CCTV and access control. Annual servicing is required by law, the customer rarely changes supplier once a system is in, and monitoring contracts add income that recurs every month.
Several private equity platforms are buying fire and security firms across the country, most of them as part of a wider compliance group. Owner-run firms with a few hundred maintenance contracts in one region are the usual bolt-on.
UK deals since January 2025, as filed at Companies House
Separate maintenance and monitoring income from installation work, which is lumpier and tied to the building cycle.
Build a buy box with this thesis · Read more: our compliance buy-and-build analysis
71 targets, £250k–£5m · 63.4% owner aged 60+ · 33 platform deals since 2025
Independent financial advisers, mortgage and protection advisers, wealth managers and insurance brokers. Ongoing advice fees and insurance renewals behave like annuities, client loyalty is high, and many firms are owned by advisers approaching retirement.
This is among the most active consolidation markets in UK small businesses. Private equity backed groups buy adviser and broker firms steadily, and prices are set on the recurring fee or commission income.
UK deals since January 2025, as filed at Companies House
The diligence core is whether clients stay when the founding adviser leaves, so look at how client relationships are spread across the team.
Build a buy box with this thesis · Read more: our professional services sector analysis
62 targets, £250k–£5m · 33.9% owner aged 60+ · 15 platform deals since 2025
Firms that run IT support, cyber security, phone systems and connectivity for small and mid-sized businesses on monthly contracts. Switching supplier is painful for the customer, so income is sticky, and these firms often sell for less than the software companies they resemble.
Telecoms resellers have consolidated for years, and managed IT has followed. Both trading groups and private equity platforms are buying founder-led firms with long-standing customer books.
UK deals since January 2025, as filed at Companies House
Check how much of the revenue is truly recurring and how dependent service delivery is on the founder or one senior engineer.
Build a buy box with this thesis · Read more: our IT services sector analysis
47 targets, £250k–£5m · 59.6% owner aged 60+ · 27 platform deals since 2025
Software built for a single industry or profession: systems for dentists, housebuilders, charities or local councils. Licence income recurs, margins are high, little capital is needed, and a product that runs a niche customer's daily work is rarely replaced.
Permanent-capital software groups buy niche UK software companies and keep them, alongside private equity platforms. They pay well for sticky niches, so prices are higher than in services.
UK deals since January 2025, as filed at Companies House
Check customer churn, how much of the code depends on one developer, and whether the niche is large enough to grow in.
Build a buy box with this thesis · Read more: our technology sector analysis
45 targets, £250k–£5m · 60.0% owner aged 60+ · 8 platform deals since 2025
Contract cleaning, pest control, washroom services and workplace refreshment. Revenue arrives monthly under contract, the business needs little capital, and at the small end it is unglamorous enough to stay off most institutional buyers' lists.
Pest control has drawn the most private equity interest, with platforms buying local operators. Commercial cleaning has many small owner-run firms, and we found fewer platforms buying them.
UK deals since January 2025, as filed at Companies House
Margins in cleaning are thin and labour is most of the cost, so check contract terms, staff turnover and how wage rises are passed on.
Build a buy box with this thesis · Read more: our professional services sector analysis
These platforms are the buyers a searcher meets in each thesis, and the buyers a searcher may one day sell to. Pick a thesis to see who is buying in it. A deal is a completion date on which the platform took control of one or more UK companies from their individual owners, as filed on the register of people with significant control; two companies bought on the same day count as one deal. Every count is a floor: the register sees a deal only once the bought company files its new owner, and it sees UK companies only, so a platform may have announced more deals than we show. We name a platform only where a public source confirms who it is, and we use the name it trades under.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
67 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
9 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
9 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
8 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
15 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
23 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
11 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
8 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
13 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
10 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
19 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
8 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
3 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
24 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
20 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
14 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
19 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
12 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
10 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
19 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
10 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
18 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
10 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in these theses.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
26 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
10 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
16 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
6 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
16 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
15 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
11 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
9 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
8 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
16 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
15 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
5 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
25 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
7 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
11 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
3 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
3 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
9 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
12 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
11 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
4 UK deals in the five years from 14 October 2021, as filed at Companies House. Every deal the platform filed is counted, not only those in this thesis.
The compliance buy-and-build article looks at one of these markets in depth, and our ranking of UK buy-and-build niches measures how far consolidation has gone in each trade.
No thesis on this list is the answer on its own. The numbers show where the supply is and who is competing for it; the choice depends on what you know, where you live and what your investors will back. Test two or three before you settle on one, following the four steps above.
For the investors, lenders and advisers around a UK search, see the UK search fund ecosystem. For the deals UK searchers have already done, see our UK search fund deal record.
Figures were measured on 14 October 2026 from Companies House data held by ExitRadar. Each thesis is the matching preset in our buy box, and its targets are the companies a saved buy box with that preset lists: companies our model rates PURSUE that have passed our target check and are not owned by another company. Specialisms are read from each company's own description and listed only where at least 25 companies carry them. EBITDA figures are estimates. Owner age is the oldest person on the register of people with significant control. Deals are counted from that register: a deal is a completion date on which the buyer took control of one or more UK companies from their individual owners, counted once per buyer across all its UK holding companies, and every deal the buyer filed is counted, not only those in the thesis. The five-year window starts on 14 October 2021. We name a buyer only where a public source confirms who it is, and we use the name it trades under. We withhold any figure covering fewer than 10 companies. PURSUE is our model's verdict on a company, not a forecast that it will sell.