Curriculum
10 modules · 12 weeks · ~104 hours Built around UK-specific deal mechanics, real Companies House case studies, and a live underwriting capstone with our deal team.
MODULE 01
Foundations of UK Business Stewardship Week 1 · 8 hrs
The mindset, history and ethics of taking over a business someone built over decades.
The UK SME landscape: 5.5m businesses, the silver tsunami of retiring owners Stewardship vs. acquisition: why approach matters more than capital Reading the founder: legacy, identity and the emotional handover Case study: Timpson, Richer Sounds and other UK stewardship stories Ethics charter — the LegacyRelay code of conduct
MODULE 02
Sourcing & Evaluating Established Businesses Week 2 · 10 hrs
Where to find UK businesses for sale, and how to spot the ones worth your years.
Channels: brokers (Rightbiz, Daltons, BusinessesForSale), direct outreach, LegacyRelay matched introductions Initial screen: turnover, EBITDA, owner-dependence, customer concentration Industry filters: trades, retail, hospitality, B2B services, light manufacturing Red flags vs. fixable issues — a working framework Workshop: build your personal acquisition thesis MODULE 03
Financial Due Diligence (UK-specific) Week 3 · 12 hrs
Read a Companies House filing in 20 minutes. Spot what's hidden.
Reading UK statutory accounts (FRS 102 & FRS 105) — what filings hide Add-backs, owner remuneration normalisation, true SDE/EBITDA Working capital: the deal-killer most first-timers miss VAT, PAYE, Corporation Tax — outstanding liabilities and HMRC checks Building a 3-statement model + valuation triangulation (multiple, DCF, asset) MODULE 04
Legal, Tax & Deal Structuring Week 4 · 10 hrs
Asset vs. share purchase, BADR, SBA, earn-outs and how UK deals actually close.
Share purchase vs. asset purchase: tax, liability and complexity trade-offs Business Asset Disposal Relief (BADR) — what your seller cares about SPA anatomy: warranties, indemnities, disclosure letter, completion mechanics TUPE: protecting staff on transfer (and why this matters culturally) Working with UK solicitors and accountants — getting value, not bills MODULE 05
Funding the Acquisition Week 5 · 8 hrs
Search funds, SBA-style loans, seller finance, EOTs, and the LegacyRelay capital partners.
Personal capital, family & friends, and realistic deposit expectations UK lenders for ETA: ThinCats, Allica, Shawbrook, NatWest, HSBC — what they actually want Seller financing & deferred consideration — the most underused tool in UK SME deals Search fund model adapted for UK; Employee Ownership Trust (EOT) as exit-friendly path Investor pitch deck workshop + live mock pitch MODULE 06
The First 100 Days as Operator Weeks 6–7 · 14 hrs
Don't break what you bought. A day-by-day playbook for taking the chair.
Week 1: listening tour — every employee, top customers, top suppliers Week 2–4: keep the engine running, change nothing, document everything Honouring the outgoing founder publicly and operationally Identifying the 3 quick wins vs. the 3 things you must NOT touch yet Building your senior team and external advisory board MODULE 07
Operations, Systems & Modernisation Weeks 8–9 · 14 hrs
Drag a paper-and-spreadsheet business into the modern era — without losing its soul.
Process mapping the existing business (and finding the value) ERP/CRM choices for UK SMEs (Xero, QuickBooks, HubSpot, Pipedrive, Sage) Digital marketing fundamentals: Google Business Profile, local SEO, basic paid Pricing power: how most acquired UK SMEs are 8–15% underpriced KPI dashboards every operator needs from month one MODULE 08
People, Culture & Leadership Week 10 · 8 hrs
You inherited a team. Now lead them — without becoming the founder you replaced.
UK employment law essentials: contracts, statutory rights, grievance & disciplinary Reading and reshaping inherited culture Compensation, share schemes (EMI), and aligning the senior team Recruiting your first hires — the danger zone of months 6–18 Difficult conversations: underperformance, redundancy, exits with dignity MODULE 09
Growth Strategy & Bolt-on Acquisitions Week 11 · 8 hrs
Once the engine runs, how to actually grow it — organically and through bolt-ons.
Organic growth: customer expansion, geographic expansion, adjacent services Bolt-on M&A 101 — buying competitors and complements at SME scale Roll-up strategies in fragmented UK industries When to take on debt for growth (and when not to) Setting a 5-year vision the founder would be proud of MODULE 10
Capstone — Live Deal Sprint Week 12 · 12 hrs
Underwrite a real LegacyRelay-sourced UK business end-to-end and present to our investment committee.
Receive a live anonymised deal pack from the LegacyRelay pipeline Run full diligence with mentor support Build your LBO model and 100-day plan Present to a panel of UK operators, investors and the LegacyRelay team Graduation: eligibility for matched introductions to retiring owners 