We are experienced private equity investors seeking to commit between £3m and £10m to established, fast growing, cash generative, ambitious UK companies


£3m – £10m of private equity funds

Minimum EBITDA £1m

Enterprise Value £5m – £30m

Transaction Type:

Management Buy Out / Acquisitions

Growth Capital

Replacement / Succession Capital


We consider all sectors, on the merits of the opportunity. We tend to look for a combination of:

  • Ambitious management teams and experienced CEOs;
  • Growth potential;
  • Recurring or visible income streams and;
  • ‘Something special’ (e.g. a discernible point of differentiation or competitive advantage)

We tend to avoid:

  • Customer or supplier reliance over 25%;
  • Declining profitability;
  • Turnaround situations

 Equity Holding:

 Ethos’ partnership style is comfortable with minority and majority investment positions


If you would like to speak with us about your business and your capital requirements please contact us.




“Julian has always provided dynamic and commercial support to the business and to me as CEO. I have previously described him as a ‘fire hose’ in referencing in the best sense; he never seeks to run the business but I have been able to use his energy to get things done when on occasion I have run out of hours in the day and I have enjoyed our partnership”

Sam Pemberton, CEO Read case study

Virgin Wines

Virgin Wines

“Julian has always understood the business from a customer perspective, appreciated the challenges the people in our business face, embraced the unique culture we have created here at Virgin Wines and brought a marketing based appreciation to the Board rather than one purely based on the numbers which has been both refreshing and invaluable for everyone involved”

Jay Wright, CEORead case study



“Julian understood our business model from the outset and encouraged us to lift our horizons which has already seen us surpass our original goal of growing to 16 tracks over 5 years. As with any smaller company, we have had to jump a number of hurdles and Julian has been incredibly supportive throughout with advice and guidance in growing the business and in developing the management team and the strategy”

Dominic Gaynor, CEORead case study

Nu Heat


This investment marks our confidence in this market and the company’s continued growth story. Above all, the investment and support will help us to continue to provide our customers with the best heating solution whilst providing our people with a bright future firmly anchored in the origins of the business.

David Roberts, CEO Read case study

The case studies are investments led by the Principals of the firm since 2013.