HL Capital is a privately-funded acquisition vehicle. We are looking to acquire a single established UK business from a retiring owner — and to run it, carefully, as its next long-term steward.
"Our favourite holding period is forever."— Warren Buffett
HL Capital is not a fund. We are not assembling a portfolio, timing an exit, or folding businesses into something larger.
Our intention is simple: to find one good UK company, acquire it with patient capital, and operate it as its next owner for many years. The capital is personal and private, so decisions are made directly and commitments made to a seller can be kept.
HL Capital was founded by Hugo Codrington, who will be the operator of the business we acquire. Hugo's background is in military leadership, an MBA from London Business School, and operational programmes at Amazon.
"I am looking for one business to run, not ten to own. The plan is to be the next long-term steward of a company a retiring founder has already spent years building."
We are sector-agnostic. Company fundamentals and the suitability of a handover matter more to us than industry category.
EBITDA or owner earnings. Consistent across several years, not a turnaround.
An owner-operator looking to retire or step back, with the business in good order.
Loyal customers, long-standing contracts, or genuinely repeat business.
People already in place. We buy to continue the work, not to replace it.
Certifications, geography, relationships, or craft that are hard to replicate.
Anywhere in the UK. We are prepared to travel to and relocate for the right business.
We keep teams intact, preserve what works, and build carefully from there. This is not a cost-cutting exercise or a rebrand.
Most owners want to leave well. We can structure a transition — including a paid consultancy period — that suits the seller, the team, and the business.
Early conversations are private and without obligation. Nothing is shared, nothing is marketed, nothing leaves the room until you are ready.
You speak with Hugo throughout the process — no committees, no layers, no drawn-out approval chains. Decisions are made quickly and kept.
We have no fund cycle and no external pressure to exit. The intention is to hold and build the business for the long term.
If you are a business owner considering succession — or an advisor, broker, or accountant with a client in that position — we would welcome a first conversation.