Mezzanine Investment Criteria

Investments generally range from $3.0-15.0 million, or larger through co-investment partners,
with flexible pricing structures tailored for each transaction.

Transaction Types

• Private equity sponsored buyouts
• Management and family-driven ownership transitions
• Acquisitions
• Recapitalizations
• Growth capital

Company Characteristics 

• EBITDA of $2.0 million and above
• Stable and growing end-market demand
• Diversified customers, markets and suppliers
• Demonstrated recurring revenue
• Sustainable free cash flow
• Proven management team

Investment Structures

• All-coupon, fixed rate, subordinated debt
• Subordinated debt with nominally priced warrants
• Minority equity co-investments

Alternative Roles, Participating As

• A sole investor
• A lead investor for a co-investment group
• A co-investor with another institutional investor

Please contact any of our mezzanine partners if you have questions about Spell Capital Mezzanine, its investments or investment criteria.