Our Investment Focus
Mezzanine financing – which is typically structured as a non-amortizing term facility – provides flexibility in cash flow management and is a cost effective alternative to raising additional equity to finance transformational events, including:
- Growth capital
- Financial sponsor buyouts
- Shareholder buyouts
- Management buyouts
- Equity withdrawals (Dividend Recapitalizations)
RBC Mezzanine Finance can work together with our RBC senior debt partners to provide mid-market companies and financial sponsors with a comprehensive financing solution to facilitate transactions.
Mezzanine investments range from $3 million to $20 million in any single transaction, plus the ability to partner on larger transactions.
Our Investment Criteria
RBC Mezzanine Finance is seeking investment opportunities in businesses in a variety of industries* that have some or all of the following characteristics:
- Proven and sustainable free cash flows, with EBITDA typically exceeding $3 million, and an Enterprise Value greater than $10 million
- Strong management teams with a significant financial commitment (“at-risk” capital)
- Established track record of business plan execution
- Operate in market niches and possess a sustainable competitive advantage
- Based in Canada and/or the U.S.
*excluding real estate and natural resource extraction
Patrick has over 20 years of mezzanine investment and merchant banking experience. He joined RBC in 2007 from CCFL Mezzanine Partners and was previously with McKenna Gale Capital, two leading independent mezzanine funds. Patrick also spent time in business development and as a university lecturer. Patrick is a Chartered Financial Analyst, and has an MBA from Saint Mary’s University.
Joe is responsible for sourcing and executing junior capital investments. Prior to joining RBC, Joe was a Vice-President with KPMG Corporate Finance. During his career, Joe has acted as a principal investor or advisor on more than 25 completed transactions with a combined value of greater than $1 billion. He has executed a variety of transactions for boards and shareholders, including mergers and acquisitions, fairness opinions, private placements and strategic alternatives assignments. Prior to KPMG Joe worked in the equity research team at Merrill Lynch. Joe holds the Chartered Accountant and Chartered Financial Analyst designations.
Steve is responsible for sourcing and executing junior capital investments. Prior to joining RBC, Steve was a Partner and Senior Vice President at Ernst & Young Orenda Corporate Finance. Steve spent over 25 years at EY during which he co-founded the Canadian capital markets advisory business. He has led hundreds of transactions in a variety of industries involving many forms of financing and capital structures. Steve holds an MBA from McMaster University as well as the Chartered Professional Accountant designation.
David is responsible for sourcing and executing junior capital investments. David joined the RBC Mezzanine Finance group in 2018. Prior to joining RBC, David worked as a Credit Underwriting Director at Espresso Capital. Prior to that, he was the Director of Mergers & Acquisitions at Volaris Group and has previously held various investment roles at Roadmap Capital, VL Advisors and OMERS Private Debt. David has led transactions ranging in size from $500k to $20 million in mezzanine debt, private equity, venture capital, and senior debt. David holds the Chartered Professional Accountant designation and a Master of Business Administration (Finance) from the University of Alberta.
Jordan is responsible for sourcing and executing junior capital investments. Prior to joining RBC, Jordan worked as an Investment Manager at Crown Capital Partners. There he gained exposure to middle-market public and private companies across numerous industries and geographic regions. His core responsibilities included investment underwriting and portfolio management, including full cycle management of complex transactions and development of creative financing structures. Jordan has been directly involved in the investment underwriting and portfolio management of greater than 25 completed mid-market transactions representing greater than $500 million in capital deployed. Jordan holds the Chartered Financial Analyst designation and a Bachelor of Arts in Political Science and Economics from the University of Toronto.
Karim is responsible for sourcing and executing junior capital investments. Karim joined the RBC Mezzanine Finance group in 2018. Prior to joining RBC, Karim worked at BerQ Capital, where he was responsible for the analysis of equity and debt investment opportunities in the renewable energy space and at Capitalink Advisors, advising on the execution of various mergers and acquisitions in the Canadian private middle market. Karim holds a Bachelor of Arts, Honors Business Administration degree and a Master of Business Administration degree from the Ivey Business School at Western University.