Approach
Our Strategy
Corbel targets lower middle market companies seeking a value-add partner to help them scale or professionalize their businesses.
Execute minority and majority investments into wellpositioned, lower middle market businesses that are either profitable or temporarily challenged and can benefit from experienced sponsorship.
Offer flexible deal structures for a tailored solution to fit needs such as minority and majority recapitalizations, rescue capital, growth capital, and independent sponsor finance.
Provide strategic and operational support including M&A strategy and execution, business development, personnel recruitment, operational analytics, and capital structure optimization.
Typical investment structures include unitranche debt, debt with equity participation, convertible debt, participating or convertible preferred equity, or common equity.
TARGET INDUSTRIES & INVESTMENT CRITERIA
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Corbel typically invests $10 - $35 million in a wide variety of industries
PERFORMING COMPANIES
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Stable, growing asset-light businesses
<$20 million of LTM EBITDA
<$100 million of LTM Revenue
Entrepreneur/family-operated businesses or financial/independent sponsor involvement
Profitable, stable operating history
Strong management teams
Significant addressable market
Leading market share
Value added M&A opportunities
TURNAROUNDS & SPECIAL SITUATIONS
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Temporarily cash flow challenged businesses
$5-20 million of Historical EBITDA
Breakeven/negative LTM EBITDA
Previously Performing Companies undergoing temporary adversity (e.g., COVID-19)
Near-term cashflow issues that can be resolved with flexible capital
Quality enterprise or asset value
Resilient business model
Identifiable recovery potential
Proven level of historical profitability despite recent challenge
Transaction Types
Corbel makes creatively structured and flexible minority and majority investments into lower market businesses across numerous transaction types and security structures.
Growth Capital for Under-Capitalized Company
Provides primary capital to the balance sheet to drive revenue and earnings growth
Partial Sale/Dividend Recapitalization
Enable owners to realize partial liquidity through a dividend at transaction close
Creative Financing for Independent Sponsors
Provides flexible capital in support of acquisitions by independent sponsors
Capital to Facilitate a Strategic Acquisitions
Finance a portion or 100% of a strategic acquisition
Buyout of Partners/Shareholders
Facilitate the buyout of a minority or majority partner
Rescue Capital for Turnaround Situations
Inject working capital into temporarily-challenged situations
Secondary Purchases of Existing Securities
Provide immediate liquidity for investors seeking alternative exits
Operations Support Management
Regardless of transaction type, provide strategic and operational support to create enterprise value
