Szemer´edi’s regularity lemma is a fundamental tool in extremal graph theory, theoretical computer science and combinatorial number theory. Lov´asz and Szegedy [7] gave a Hilbert space interpretation of the lemma and an interpretation in terms of compactness of the space of graph limits. In this paper we prove several compactness results in a Banach space setting, generalising results of Lov´asz and Szegedy [7] as well as a result of Borgs, Chayes, Cohn and Zhao [2].