patterns / b2b_tech_buyout

buyout thesis

B2B tech buyout

founder-led B2B tech at 40–200 staff, growing and structurally profitable, no outside equity on the register — the bootstrapped growth-buyout profile (£5–15m ARR class)

the signature — what the register must show
SIC 62/63/582
staff 40–200
an individual PSC holds ≥25%, no corporate PSC, no prior owner exits
staff growing YoY
profit > 0 (or equity accreting where the P&L is not filed)
no SH01 share allotment on the register in ~6 years (where walked)

Why it matters

The bootstrapped growth-buyout profile: a founder still in control, institutional money visibly absent (no holdco in the PSCs, no equity raises in the capital filings), the team size of a £5–15m ARR business, and the trajectory still pointing up. Staff is the size proxy — this cohort files fuller accounts than the census average, so turnover/profit refine it where present.

The play

Growth buyout / majority recap origination: £10–50m equity tickets with moderate leverage. The register cannot see ARR quality or churn — that is the analyst's work on this shortlist, not the screener's.

How it's kept honest

The badge is recomputed nightly across the whole index, and re-evaluated live the moment a company files — so a match is always a statement about the current register, not a stale list. Like every signal on the radar: a prompt to look closer, never a verdict.