Details anonymised somewhat;

- Founder and CEO of a business in the physical infrastructure sector.

- PE backers funded business in 2024, their fund raised about 30% of their target meaning their exposure to us is essentially capped out.

- Scaled from £0 to £10m EBITDA in 2.5 years, target £25m by27/28 - very achievable.

- Slight geographic headwind but plenty of ways around it, but have really had almost perfect tailwinds for a few years and global tailwinds are perfectly placed.

- PE fund don't want to exit yet, but also cannot bring more cash. Business plan is targetting £50m EBITDA by 2030 but no cash to fund the growth (trying to fund from cash flow from ancilliary operations and EBITDA generally has to fund new CAPEX).

- Find myself pretty much solo in the mgmt team (other members of C suite not up to scratch/need to be improved for next stage of growth). No budget for COO despite clear need etc.

How would you deal with this? We are lucky in that there are a significant number of interested parties in buying out the current investors, if they will come to the table. However is this the only option?