Market Musings

Texas is not growing by accident. It is growing by acquisition. As the state’s economy continues to expand, companies are not just starting businesses — […]

Mezzanine debt is a power booster for buyers flexing in a negotiation. The mere existence of mezzanine debt or any form of acquisition unitranche facility […]

Mezzanine debt is rarely seen as a lubricant for execution risk in a leveraged transaction. Often it is viewed negatively as a symbol of “too […]

Asset purchases are a common deal structure in acquisition financing and bring value to the buyer in several ways. Unlike a stock purchase, where the […]

Acquisition financing lenders rely heavily on cash flow stability in their underwriting approach. Providers of acquisition financing capital assume that historical performance is reflective of […]

The distressed company buyer tends to be overconfident as to their plan and underprepared as to their acquisition financing. There are many hidden costs within […]

Understanding the cost of acquisition financing leads to misguided comparisons and ill-informed views. Deal world participants are so focused on the nominal cost of interest; […]

Niche industries are everywhere and present a conundrum for acquisition financing providers. Each lender has their own set deal criteria that governs the types of […]

Roll up strategies need copious levels of acquisition financing, yet capital requirements do not end there.   Rapidly scaling companies create capital needs far beyond the […]

First time users of acquisition financing often wade into the deep end with little focus on debt capacity. Debt capacity analysis is the foundation of […]