HL Capital was set up to acquire and operate a single established UK business. We want to find a good company from a retiring owner, take it on as its next steward, and grow it into its next chapter.
HL Capital is not a fund. There is no portfolio, no exit timeline, and no plan to fold a business into something larger.
Our intention is to find one good UK company, acquire it, and operate it for many years, preserving what works, investing in the team, and building on what the founder started. The acquisition is backed by committed capital, so decisions are made directly and commitments made to a seller can be kept.
HL Capital was founded by Hugo Codrington. Hugo spent nine years in the British Army, including service as Assistant Equerry to Her late Majesty Queen Elizabeth II, a role defined by discretion, personal responsibility, and service. Those values shaped his approach to leadership and now inform how he thinks about stewardship of a business and the people within it. He then completed an MBA at London Business School, focused on entrepreneurship, strategy, and finance. Most recently he spent four years at Amazon as a Senior Vendor Manager, responsible for the commercial performance of a multi-million pound product category: owning the P&L, managing supplier relationships, negotiating trading terms, and driving growth across a complex portfolio of partners.
Running a business well requires a combination of leadership, commercial discipline, and genuine care for the people who make it work. Hugo's career has been building towards exactly that, from leading soldiers, to managing commercial partnerships at scale, to now seeking a business where he can apply those skills as an owner-operator alongside an experienced team that knows the industry inside out.
We know that handing over a business you have spent decades building is one of the biggest decisions you will ever make. It matters who takes it on. There are thousands of excellent UK companies whose owners are approaching retirement with no clear succession plan. Many will close or be sold to buyers who strip out costs, replace the team, and discard the identity that made the business what it is. We want to be different: the buyer who recognises the value of what has been built, preserves it, and commits to growing it further.
Our goal is to invest in the people and systems that make the business work: developing the team, deepening customer relationships, and pursuing the growth opportunities the founder may not have had the time or resources to chase. The legacy does not end at the point of sale. It continues, with new energy and capital behind it. We measure success in years, not quarters.
HL Capital is supported by experienced legal, financial, and strategic advisors who bring decades of deal-making and operational expertise to every stage of the process.
The fundamentals of the business and the suitability of a handover matter more than the specific industry. We have sector preferences, but will always look at a good business with the right characteristics.
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 build on their work, not to replace it.
Certifications, geography, relationships, or craft that are hard to replicate.
We will consider opportunities across the UK, with a particular interest in Northern England and Scotland.
Our goal is to keep teams intact, preserve what works, and build carefully from there. We are not looking to cut costs or rebrand what already works.
Most owners want to leave well. We want to structure a transition that gives continuity to the team, time to learn the business properly, and a clean exit for the seller on a timeline that works for them.
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. No committees, no layers, no drawn-out approval chains. Decisions are made quickly and commitments are honoured.
There is no fund cycle and no external pressure to exit. Our intention is to hold and grow the business for the long term.
Whether 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.
Prefer to talk directly? Call any time. Otherwise, leave a message below and we will get back to you promptly.