Middle-Market and Lower Middle-Market Lending
Approach
We focus on providing one-stop financing solutions to established U.S. middle-market and lower middle-market businesses that are tailored to fit the specific needs and risks of each borrower. Our platform, longevity, and significant capital base provides companies with a long-term capital solution. The ability to deliver value-add beyond capital drives quality investment opportunities across varying market conditions.
Origination
We target companies with EBITDA of less than $5 million up to $150 million, seeking attractive risk-adjusted returns on both an absolute and relative basis.
Middle-Market Transaction Structures
We make senior and secured loans and equity-linked investments in U.S. middle-market companies with EBITDA from $50 million to over $150 million.
- Senior and secured loans
- Mezzanine
- Equity
Lower Middle-Market Transaction Structures
We make senior and secured loans and equity-linked investments in U.S. middle-market companies with EBITDA of less than $5 million up to $50 million.
- First lien term loan
- Unitranche first lien term loan
- First lien last-out term loan
- Convertible term loan
- Second lien term loan
- Preferred Equity
- Common Equity
Our Borrowers and Sponsors
- Smaller private equity sponsors (< $500 million)
- Independent sponsors
- Operating executives
- Management teams
- Family offices
- Founders
- Larger private equity sponsors (> $500 million)
- Public company shareholders
We Provide Capital For
- Acquisitions (platforms and add-ons)
- Refinancings
- Recapitalizations
- Later-stage growth
- Capital expenditures
- Leveraged buyouts
- Dividend recapitalizations
Our Credit Focus
- Stable operating history
- Strong market and competitive position
- Experienced management
- Asset-light and asset-heavy businesses
- Diverse Customers and Suppliers
- Broad industry focus