01
€2M to €10M+ EBITDA
Established revenue and positive, demonstrable EBITDA. The range is indicative rather than a strict requirement.
Acquisitions · Operating improvement · Buy and build
Building better businesses.
KYI Capital partners with owners and investors to acquire established businesses and build them into larger, more efficient and more valuable companies.
We combine investment discipline with an internal technology and AI capability designed to improve operations, increase EBITDA and support long-term growth.
Our approach
Acquire. Improve. Compound.
KYI Capital acquires and partners with established businesses where technology, AI, operational improvement and strategic acquisitions can materially increase long-term enterprise value. We are particularly interested in businesses where complexity creates opportunity.
01 / What we look for
Established businesses.Real cash flow.Untapped potential.
We focus on profitable businesses with strong underlying economics where technology, operational improvement and strategic acquisitions can create substantial additional value.
Typical characteristics
02
B2B business models
Businesses that serve other businesses, institutions or public bodies.
03
Recurring or repeat demand
Long-standing customer relationships and predictable purchasing patterns.
04
Defensible market positions
Products, service levels, know-how or relationships that competitors find hard to replicate.
05
Fragmented sectors
Industries with many smaller operators, where scale and professionalisation create advantage.
06
Founder succession
Owners planning the next stage of a business they have built over many years.
07
Operational complexity
Many products, customers, suppliers or sites, and significant manual processes.
08
Buy-and-build potential
A strong business that can serve as the foundation for further acquisitions.
Criteria are indicative. We also consider smaller businesses as add-on acquisitions and larger opportunities alongside capital partners.
Sectors
We are sector-focused rather than sector-exclusive. Our interest is in recurring B2B industries where operations are complex and the economics reward doing things well.
- Manufacturing
- Industrial products
- Specialty distribution
- Construction products
- Infrastructure supply
- Logistics
- Healthcare products and services
- Business services
- Energy-related businesses
- Other recurring B2B industries
02 / How KYI creates value
Technology as an operating advantage.
We do not see AI as a presentation layer or a marketing exercise. We work directly inside the businesses we acquire to identify where technology can improve economic performance, and then we do the work.
Most established companies lose margin and cash in ordinary places: prices that are not reviewed, quotes that take days, stock that sits too long, invoices that are collected late, and reports that arrive after decisions have been made. That is where we start.
Commercial
- Pricing
- Quoting
- Sales
- Customer service
- Better pricing discipline
- Higher gross margins
- Increased sales productivity
Supply
- Purchasing
- Inventory
- Demand forecasting
- Lower input costs
- Less working capital
Operations
- Production planning
- Warehouse operations
- Logistics
- Higher asset utilisation
- Lower operating costs
Order to cash
- Order processing
- Accounts receivable
- Collections
- Faster order processing
- Stronger cash conversion
Finance and management
- Financial reporting
- Management information
- Administrative workflows
- Faster, better-informed decisions
- Lower overhead
What we measure
Our objective is to identify and execute initiatives capable of materially improving EBITDA and cash generation.
- Gross margin
- Operating costs
- Working capital
- Order cycle time
- Asset utilisation
- Pricing discipline
- Sales productivity
- EBITDA and cash generation
03 / AI and engineering
An engineering team inside the investment platform.
KYI has access to experienced software and AI engineering talent that works directly with the businesses we acquire.
Rather than relying exclusively on consultants or off-the-shelf software, we can deploy technical resources directly against operational problems, working with management on the processes and data the business already has.
This changes what is possible after an acquisition. Improvements that would usually require a long procurement cycle or an expensive external programme can be scoped, built and measured by people who are accountable to the same investment outcome.
How we work
01
Understand the operation
Time on the ground with management and the people who run quoting, purchasing, production, the warehouse and finance.
02
Identify economic leakage
Locate where margin, time and cash are being lost, and estimate what each issue is worth.
03
Capture and structure data
Bring the information held in ERPs, spreadsheets, inboxes and paper into a form the business can use.
04
Automate high-value workflows
Remove repetitive work in order handling, quoting, reconciliation and reporting, starting where the return is highest.
05
Build only where necessary
Use existing systems and proven software first. Build bespoke tools only where they create a clear advantage.
06
Measure the financial result
Track every initiative against margin, cost, working capital and cash, and stop what does not pay back.
Philosophy
Technology exists to improve the business, not the other way around.
04 / The first 100 days
How we approach a newly acquired business.
No two businesses follow the same programme. This is our operating philosophy, not a fixed template: understand first, act on what matters most, and measure the result in financial terms.
Days 0 – 30
Understand
- Understand workflows
- Establish baseline economics
- Map systems and data
- Identify margin leakage
- Identify working capital opportunities
Days 30 – 60
Prioritise
- Prioritise the highest-return interventions
- Improve management reporting
- Automate repetitive workflows
- Improve pricing and purchasing visibility
Days 60 – 100
Deploy and measure
- Deploy targeted systems
- Integrate operational data
- Improve decision-making
- Measure EBITDA and cash impact
- Establish a longer-term technology roadmap
Sequencing, scope and pace are agreed with management and adapted to each company's circumstances.
05 / Buy and build
A platform, not a single acquisition.
We are particularly interested in industries where one strong business can become the foundation for a larger group.
A well-run first acquisition, with sound reporting and shared technology, makes every subsequent acquisition easier to evaluate, integrate and improve.
Growth
- Organic growth
- Adjacent product expansion
- Geographic expansion
- Distributor and competitor acquisitions
- Cross-selling
Integration
- Centralised purchasing
- Shared technology infrastructure
- Shared finance and administration
- Operational integration
The goal is to build stronger strategic businesses, not to acquire and financially engineer individual assets.
06 / Partnership with owners
A constructive home for founder-built businesses.
Many of the businesses we admire were built over decades by founders and families who know their customers, products and people better than anyone. We respect that.
Our aim is to preserve what makes a company valuable, its reputation, relationships, people and culture, while adding the capital, technology, talent and acquisition capability needed for the next stage.
We are not in the business of buying companies to strip them back. We want the businesses we acquire to be larger, stronger and better equipped in the years after a transaction than they were before it.
What we preserve
- Customer and supplier relationships
- The team and its know-how
- The company's name and reputation
- The culture that made it successful
What we add
- Capital for the next stage
- Technology and engineering capability
- Management information and reporting
- Talent and professionalisation
- Acquisition and integration capability
Transaction structures can accommodate
Full succession
For owners ready to step back, with an orderly transition of leadership.
Majority investment
For owners who want liquidity while remaining shareholders.
Founder rollover
Reinvestment alongside KYI and its partners in the next stage of growth.
Continued management participation
Equity and incentive arrangements for the team that runs the business.
Growth capital
Capital to fund expansion, systems or acquisitions.
Buy-and-build strategies
Using the business as the platform for a larger group.
Every transaction is different. Structures, terms and roles are agreed case by case and depend on the circumstances of the company, its owners and its financing.
07 / Capital
Capital structured around each transaction.
KYI structures transactions on a deal-by-deal basis with aligned private investors, family offices, institutional capital and financing partners.
Our approach allows the capital structure to be designed around the requirements of each company and transaction, rather than the requirements of a fund.
KYI remains actively involved in the businesses we sponsor and is economically aligned with our investment partners.
We work with
Private investors and family offices
Long-term capital alongside KYI in specific businesses.
Institutional capital
Co-investment in larger transactions and platform strategies.
Financing partners
Banks and private credit providers financing acquisitions and growth.
08 / Team
Transactions, capital and engineering under one roof.
KYI combines transaction and capital-markets experience with an in-house technology and operating capability. The team works alongside specialist legal, financial, tax and industry advisers on each transaction.
Hartej Singh Sawhney
Founder & Principal
Hartej Singh Sawhney is the founder of KYI Capital. He leads investment sourcing, transaction formation and the firm's relationships with owners, advisers, capital partners and lenders.
He has spent more than a decade building and backing technology businesses. He co-founded Zokyo, a cybersecurity firm, and built Zuldi, a mobile point-of-sale payments platform. He is also co-founder and CEO of KYI Labs, a separate company developing autonomy software for unmanned systems.
At KYI Capital, his focus is identifying established businesses with room to grow, structuring transactions around the needs of owners and investors, and building acquired companies into larger strategic platforms.
- KYI focus
- Investment sourcing Transaction formation Capital relationships Business building Strategic growth
- Previously
- Co-founder, Zokyo Founder, Zuldi
- Also
- Co-founder & CEO, KYI Labs
Andrew
Technology & Operating Partner
Andrew leads KYI Capital's technology and operating capability. He is responsible for how the firm assesses, prioritises and delivers technology-led improvement in the businesses it acquires.
His work spans AI, software engineering, data infrastructure, automation and the operating systems that run a business day to day, from quoting and order processing to purchasing, inventory and financial reporting.
He is involved from due diligence onwards: assessing a company's systems and data, identifying where economic value is being lost, and shaping the post-acquisition plan. After completion, he works alongside management and KYI's engineering resources to deliver that plan and measure its financial result.
- KYI focus
- AI and software engineering Operating systems Automation Data infrastructure
- Involvement
- Technology due diligence Post-acquisition operating plan Portfolio engineering
- Objective
- Technology-led EBITDA and cash improvement
Marina Galchenko
Operations & Transaction Execution
Marina Galchenko leads operations and transaction execution at KYI Capital.
She coordinates each transaction from the first exchange of information through due diligence, documentation and completion, working with legal counsel, financial and tax advisers, lenders and co-investors.
After completion, she supports the implementation of reporting, governance and administrative processes in acquired businesses.
- Responsibility
- Operations and transaction execution
- Transaction work
- Due diligence coordination Adviser and lender workstreams Completion process
- After completion
- Reporting and governance Integration workstreams
KYI Capital works with a small internal team and engages specialist legal, financial, tax and technical advisers according to the requirements of each transaction and jurisdiction.
09 / Private technology
Select private technology transactions.
Alongside its acquisition activity, KYI also participates in select late-stage and secondary private technology transactions on a deal-by-deal basis.
These transactions are arranged privately for eligible professional and institutional investors, typically through dedicated single-asset vehicles, and are separate from KYI's acquisitions of established businesses.
No offer of securities is made through this website.
10 / Questions
Questions from owners and advisers.
What type of businesses does KYI Capital acquire?
Established, profitable B2B businesses in Europe, with a particular focus on Spain. Sectors of interest include manufacturing, industrial products, specialty distribution, construction products, infrastructure supply, logistics, healthcare products and services, business services and energy-related businesses.
What size of company does KYI look at?
Indicatively, businesses with €2M to €10M+ of EBITDA, typically with revenue between €20M and €100M. The range is a guide rather than a strict requirement: smaller businesses can be attractive as add-on acquisitions, and larger opportunities can be pursued alongside capital partners.
Does KYI Capital acquire companies in Spain?
Yes. Spain is a priority market for KYI. We review opportunities in English and Spanish and work with local legal, financial and tax advisers on each transaction.
How are KYI's acquisitions financed?
KYI structures each transaction individually, with aligned private investors, family offices, institutional capital and financing partners, rather than investing from a single committed fund. This allows the capital structure to be designed around the company and the transaction. KYI remains actively involved and economically aligned with its investment partners.
What role does technology play after an acquisition?
KYI deploys software and AI engineering resources directly inside the businesses it acquires, focused on pricing, purchasing, inventory, production planning, order processing, collections, reporting and other areas where margin, cost and cash are determined. The objective is to identify and execute initiatives capable of materially improving EBITDA and cash generation.
Will the founder and management team remain involved?
That depends on what the owners want. Structures can accommodate full succession, majority investment with the founder remaining a shareholder, founder rollover and continued management participation. Our starting point is to preserve the people, relationships and reputation that make the business valuable.
What should an adviser send to KYI?
A teaser or short summary with headline financials is enough to begin. We are happy to sign a non-disclosure agreement before receiving detailed information, and we aim to give a clear initial view promptly, including when an opportunity is not a fit.
Contact
Discuss an acquisition.
If you own, advise, manage or finance an established business, we would welcome a conversation. Initial discussions are confidential and carry no obligation.
For
- Business owners
- Investment bankers
- M&A advisers
- Family offices
- Management teams
- Capital partners
Or write to
h@kyi.capitalWe are happy to sign a non-disclosure agreement before receiving detailed information. Please do not upload documents that are subject to confidentiality obligations without the necessary consent.