The mezzanine capital strategy has invested across a variety of industry sectors. Our general criteria for investments have included:
- Investment size between $3 million and $10 million per investment
- Subordinated debt, preferred equity, or selective minority co-investments in common equity
- Four to Six year tenure
- Annual Revenues between $10 and $150 million, with annual EBITDA between $2 and $10 million
- Experienced management teams with a strong track record and a significant financial commitment linked to the success of the business
- Stable or growing, predictable cash flow sufficient to service proforma debt with an appropriate capital structure
- Defensible market position which does not require significant amounts of capital expenditures to maintain
- Manufacturing, service, or distribution business with low technology risk
- Lead Investor or Co-Investor
- Companies in the Southeast, Mid-West, or Mid-Atlantic regions
- No start-ups, early stage turnarounds, or companies in the real estate or high-tech markets