Mezzanine Capital

TD has an established track record of successful investments in diversified public and private businesses. We have invested alongside some of North America's largest, most reputable and successful equity sponsors. Our flexible structures, timely investment process and experienced professional approach allow us to rapidly respond to investment opportunities and to consistently deliver on our commitments.

We have completed 25 transactions totaling in excess of $1 billion since 2000.

We provide financing by way of subordinated debt, preferred securities and equity co-investments to assist in acquisition financings, growth financings, leveraged buyouts, recapitalizations and special dividends.

Our Investment Criteria

Mezzanine financing generally refers to a layer of financing between a company's senior debt and equity. Structurally, it is subordinate in priority of payment to senior debt, but senior in rank to equity.

Mezzanine Capital targets investments in public and private North American companies. We generally underwrite a minimum of $15 million per transaction.

Companies that we seek to do business with typically have the following characteristics:

• Experienced management teams.
• Solid free cash flow generation and strong evidence of growth.
• Attractive industry trends and barriers to entry.
• Sufficient scale to withstand economic cycles and competitive shocks.
• Sound capital structures with suitably structured working capital and senior debt.
• Multiple avenues of repayment and support.

More Information

• Recognition

• See our list of awards and rankings.