Capital Solutions
Debt and structured capital advice on technology transactions from $5M to $50M. We structure the capital, run the lender process, and hold the timetable.
Request a capital structure indicationThe practice
Capital sits beside the advisory practice as a peer, not beneath it as a convenience. The same team runs both, which is why the structure is designed against the transaction rather than around whichever lender replied first.
For acquirers
We structure and arrange the debt behind a purchase: sizing the tranches, preparing the credit package, approaching lenders in parallel, and holding the timetable against the signing date rather than against whoever is slowest.
For owners
What a buyer will be able to borrow against your business, computed before you go to market, with the two or three things suppressing it named while there is still time to act on them.
Either side
Seller notes, rollover equity and earn-outs, priced and drafted as part of the capital structure rather than bolted on in the final fortnight to bridge a gap nobody modelled.
Instruments
Most technology acquisitions are financed with a blend rather than a single loan. The right question is not which product but which combination, and in what proportion.
| Instrument | What it is | Character |
|---|---|---|
| Senior cash-flow debt | Term debt underwritten against recurring earnings rather than hard assets. The cheapest money in the structure and the most conservative on leverage and covenants. | Lowest cost. Tightest terms. |
| Unitranche | One blended facility from a direct lender in place of a layered syndicate. Trades a higher rate for speed and certainty of close. | Single lender. Faster to signing. |
| Mezzanine and subordinated debt | Junior capital between senior debt and equity, usually with warrants. Closes the gap when the senior lender stops short of the full amount and the sponsor wants to keep equity. | Fills the gap. Preserves ownership. |
| Asset-based and equipment lines | Facilities secured against receivables, inventory or equipment, sized on collateral rather than earnings. Usually a complement to the senior tranche rather than a substitute. | Sized on collateral. |
| Seller notes | Deferred consideration repaid from post-close cash flow. Bridges a valuation gap, and the willingness to carry one is itself information about the business. | Typically 10 to 30 per cent of price. |
| Rollover equity | The seller retains a stake in the acquiring entity. Reduces the cash required at close and aligns both sides through the first post-close year. | Aligns the parties. Lowers the cheque. |
| Earn-outs and contingent consideration | Part of the price paid later against agreed performance. Lowers capital required at close and moves a disputed growth assumption off the negotiating table. | Prices the disagreement. |
| Government-guaranteed programmes | Where applicable to the size and structure of the transaction. Named in the analysis when it is the right instrument, and not otherwise. | Where applicable. |
Capacity
Debt capacity is a property of a business, not a question to ask a visitor. Every listing on the marketplace and every valuation the site produces carries an indicative range showing what the business will service at prevailing terms, computed from figures already on file. No form, no wait, no account.
It is the number that decides a transaction below the largest deals, and it is normally the last thing anyone computes. Nobody else publishes it.
For owners
The capacity, what suppresses it, and what can be repaired before you go to market.
For acquirers
We arrange and structure the debt behind your purchase, and run the lender process.
For lenders
What arrives, how it is screened, and the fee policy that makes the recommendation worth reading.
Indicative only. Not a credit decision, an offer of finance, or a commitment by any lender.
The group
Most capital advice rests on what the adviser remembers a lender doing last year. Ours rests on the recorded terms of completed acquisition financings, and on transaction comparables we hold rather than license. It is the reason a range on this site comes with its method attached.
Federally recorded, FY2019 onward, with amount, term, rate, lender and whether the loan survived. $45bn deployed.
Disclosed-multiple transactions across 42 benchmarked industries, with the method behind each range shown rather than asserted.
12,377 financial buyers and 3,384 strategics, with mandate, cheque size and sector where held.
29 million associated people, over an ownership layer of 1.79 million legal entities and 2.08 million named officers.
The engine
Origination, buyer-list generation and approach execution. Segment a vertical, build the list with a written reason per name, verify every address, run the approach from our own domains, and measure what came back.
Valuation benchmarks
10,212 transaction comparables with a disclosed multiple, across 42 industries. Free, with the workings shown.
Financial buyers
Who the funds are, what they buy, what they write, and how to reach them. 14,499 firms with mandate, cheque size and sector.
The transaction price register
What lower middle market acquisitions actually cost, taken from a federal file rather than from opinion. 40,612 financed acquisitions since FY2019.
Early-stage valuation
What an early-stage company is worth, built from round data rather than a rule of thumb, against 1,150+ investor firms.
Carve-outs and disposals
Mid-market technology divestitures for corporates and funds exiting a non-core asset, where confidentiality is the binding constraint rather than price.
Figures current at September 2026, drawn from each property's own systems. Record counts are stated as held; coverage and verification state vary by field and are reported per request rather than assumed. Method: capacity is level-payment amortisation run at two rates and two coverage ratios, against the recorded terms of completed acquisition financings published by LMMMA.com, a group property. No lender is named and no rate is quoted on this page.
Process
We size what the transaction will support and sketch the structure, from the figures you already have. A structure and a range, not a product recommendation.
One normalised credit package: the business, the structure, the sponsor, the sources and uses, and the things a credit officer will ask about before they ask.
Two or three lenders in parallel, each told that the others are looking. Chosen against what they actually write, not against who owes us a call.
Term sheets read side by side, on the terms that matter rather than the headline rate: coverage, amortisation, covenants, personal recourse, and what happens in a bad year.
Conditions precedent tracked against the signing date, with the same person who structured it sitting between you and the credit committee through to funding.
Terms
Fee agreed per transaction and credited in full against any subsequent engagement fee. No retainer.
The success-fee schedule for advisory engagements is published in full and does not change because a financing is attached.
Our referral fee is identical across every lender on the panel and is disclosed to the borrower. Ranking cannot be purchased.
That sentence is the product. The moment a position on a recommendation can be bought, the recommendation is worth nothing to the person reading it, and we would rather publish the policy than be asked about it.
Indicative only. Not a credit decision, an offer of finance, or a commitment by any lender. FIH does not take a referral fee on a financing that funds a transaction in which it acts as adviser. Nothing on this page is an offer of finance, a credit decision, or legal, tax or investment advice.