Mizzen Capital

Overview

Mizzen Capital is a U.S.-based private investment firm specializing in providing flexible debt solutions to lower middle-market companies. They structure capital to meet each company's specific growth and operational objectives, maintaining rigorous transparency standards and aligning their interests with management teams to create sustainable value for all stakeholders. They serve as fiduciaries to their clients, deploying capital that strengthens middle-market companies and supports the livelihoods of their employees, suppliers, and communities across America. Their investment strategy targets companies with EBITDA of $1 million to $15 million, emphasizing business models with free cash flows, recurring revenues, lower capital expenditures, and consistent historical financial performance. They seek strong, experienced management teams with a demonstrated commitment to success, defensible industry leadership or distinguished market niches, and growing markets with fundamental value propositions. Their transaction structures include Senior Secured First Lien, Senior Secured Second Lien, Mezzanine with Warrants, and Equity Co-Investment, with leverage under 4x. Use of proceeds includes working capital, recapitalizations, acquisitions, and growth. Investment sizes can range up to $30 million, with larger loans syndicated and smaller transactions considered if integral to a larger relationship. Mizzen Capital is a women-owned SBIC fund with a diverse and inclusive team that connects them to diverse ownership teams seeking investment. They value honesty and integrity in everything they do, strive to act responsibly and communicate clearly, build long-term relationships based on trust and respect, and empower their team and companies with aligned goals. They are committed to incorporating ESG issues into their investment analysis and decision-making processes, being active owners and incorporating ESG issues into their ownership policies and practices, seeking appropriate disclosure on ESG issues by the entities in which they invest, promoting acceptance and implementation of the Principles within the investment industry, working together to enhance their effectiveness in implementing the Principles, and reporting on their activities and progress towards implementing the Principles.

Investment Focus

• Companies with EBITDA of $1 million to $15 million
• Free cash flows
• Recurring revenues
• Lower capital expenditures
• Consistent historical financial performance
• Strong, experienced management teams
• Defensible industry leadership or distinguished market niches
• Growing markets with fundamental value propositions
• Asset base or reliable cash flows to support loans
• Located in the United States or its territories

Portfolio Companies