For searchers and independent sponsors in the UK and US.

There is a big difference between “raising equity” and engineering a capital stack. Under £50m enterprise value, creativity matters more than brand name funds. I look at: 1. Where seller risk can be extended 2. Where senior debt can be safely increased 3. Where equity can be protected 4. How sponsor upside is preserved If you are an independent sponsor and feel like you are over diluting just to get to close, message me with the basics and I will tell you quickly if it is fixable. No theory. Just live transactions.