For Funders
A disciplined acquisition pipeline, backed by experienced operators.
Hoki is building a portfolio of profitable, founder-led technology businesses in the UK. We are seeking Growth Guarantee Scheme lending to fund a repeatable acquisition strategy with experienced principals, cash-generative targets, and a structured post-acquisition integration process.
Talk to us about lendingWhy this works
The market for small UK technology businesses — IT services, MSPs, SaaS, digital agencies — is structurally favourable for disciplined buyers right now. Many are owner-managed by founders approaching retirement with no succession plan, recurring revenue bases, profitable operations, and teams that are stable. These are not distressed businesses. They are businesses whose owners need a credible exit.
Hoki's principals — Paul Carroll (CEO & CFO) and Alex Porter (CIO) — have operational track records that are directly relevant to this strategy. They previously integrated 13 technology businesses into a single operating group and led that business to a NASDAQ listing in 2000. Paul has since held CFO and CEO roles in fintech, defence, and financial services. Alex spent 15 years at the EBRD leading technology and business development programmes across 8 countries.
The Growth Guarantee Scheme is well-suited to this acquisition model. Facilities up to £2m, 70% government-guaranteed, 10-year terms available. The targets are asset-light but cash-generative — recurring revenue with low capital intensity. Debt service is supported by EBITDA from day one.
The proposition in brief
Target profile
Profitable, founder-led UK IT/digital/AI businesses. Turnover £1m–£4m. Recurring or contracted revenue base. Established team.
Sourcing
Direct to seller — no broker intermediation. Principals approach and qualify businesses through our network, sector contacts, and inbound from our digital presence.
Underwriting
Six-stage process: Enquiry → Discovery → NDA / Information Exchange → Indicative Offer → Due Diligence → Completion.
Post-acquisition
Transition period managed by the Hoki principals. Technology modernisation through our Harness practice protects and grows the revenue base. Integration into the operating group without disruption to clients or team.
Growth Guarantee Scheme
We are approaching accredited GGS lenders as our primary financing channel for acquisitions. The scheme parameters match our acquisition profile closely:
- Up to £2m per facility
- 70% government guarantee
- Terms up to 10 years
- Asset-light businesses qualify — no property or hard assets required
- Revenue-based debt service from cash-generative targets
We are prepared to share a full information pack — deal pipeline, financial models, principal CVs, and acquisition methodology — with accredited lenders under NDA.
Underwriting process
- 01
Enquiry
Seller or referrer makes initial contact. Hoki responds within one working day.
- 02
Discovery
Principals conduct a structured call to assess fit, revenue quality, and team stability.
- 03
NDA / information exchange
Mutual NDA signed. Financial statements, client lists, contracts and team data shared.
- 04
Indicative offer
Written indicative offer based on adjusted EBITDA multiple. Terms, structure and earnout (if any) set out clearly.
- 05
Due diligence
Financial, legal and technical due diligence conducted. Lender information pack prepared in parallel.
- 06
Completion
Facility drawn. Legal completion. Transition plan activated.
How we protect the asset post-acquisition
Revenue protection in an IT services or MSP acquisition comes down to two things: keeping the team and keeping the clients. Our post-acquisition methodology is built around both.
The Hoki Transition practice manages the ownership change in a way that is visible and reassuring to clients and staff. The Hoki Harness practice then modernises the technology estate — cautiously, in a way that reduces cost and extends the useful life of the business rather than disrupting it.
Together, these practices protect the revenue base that supports debt service and position the business for organic growth within the Hoki operating group.
Talk to us about lending
If you are a GGS-accredited lender or interested in discussing a lending arrangement, reach out to Paul Carroll directly. We are prepared to provide a full information pack under NDA.