Our portfolio companies are not trades to generate selfish profits, but investment opportunities to realize mutual value. We structure our financing in order to align interests toward achieving business success.
Sound business strategy with known product demand and capacity for existing or future cash flow generation to limit default risk.
Experienced management teams committed to business and aligned through personal risk and ownership.
Strong customer, supplier, employee, creditor, and shareholder relationships.
Wide range of deleveraging or exit options not dependent on refinancing, collateral realization, or liquidation.
Debt: Revolving and term loans, delayed draw-down loans, standby/backstop facilities, DIP/interim financing Equity: Preferred shares
Debt: Non-sponsored lending where we can reduce dilution and add strategic and financial value.
Equity: Preferred share investments in no/low leveraged companies
Debt: $20 Million to $300 Million on a direct basis with no syndication risk. Will anchor larger debt financings under certain circumstances. Equity: $5 Million to $100 Million in preferred securities with board representation
Debt: Financial maintenance covenants and operational KPIs depending on situation. Equity: Normal and customary.
Debt: Demand or committed up to 5 years Equity: Preferred shares with put/call features or redeemable up to 5 years
Primarily Canada. United States depending on situation.
Debt: Interest only, flexible payment schedules including free cash flow sweeps or event-driven amortization. Equity: Dividends that can be accumulated.
Debt: Growth, turnaround, distress, bankruptcy/restructuring. Highly leveraged situations okay where there is sufficient asset coverage. Equity: Growth and turnaround. No/low leveraged situations only.
Debt: Key assets critical to business operations with strong consideration given to “hard to see” assets such as mineral reserves and resources, patents, software code, rights and licenses, customer lists, and contracts. Equity: Not applicable.
Energy, alternative energy, metals and mining, software and technology, consumer products and retail/e-commerce, construction services, transportation and logistics, and business services We do not invest in real-estate development, personal or individual loans, or in businesses involved in pornography, tobacco, cannabis, or weapons and munitions.
Debt: Senior secured, stretch, second lien, 1st lien with stretch or unitranche. Equity: Preferred above common and management shareholders.
Working capital, acquisitions, market or product expansion, innovation and R&D, refinancings, recapitalizations, bankruptcy/receivership/restructuring financing. We believe in investing for the purposes of increasing a company’s value and therefore do not finance strictly for the purpose of funding dividends or buying back shareholder stock.
