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Marquette Capital Partners focuses on privately held manufacturing, distribution and business-services companies with annual revenues ranging from $10 million to $100 million. Marquette maintains a flexible approach to the market, investing in partnership with high-quality management teams, financial institutions and private equity investors. Established in 1997, Marquette has invested in 39 companies for internal growth strategies, acquisitions, buyouts and recapitalizations. The company is currently investing in its second SBIC fund and is licensed under the U.S. Small Business Administration.
Marquette Capital Partners has a reputation for forging solution-oriented relationships with their partners. They recognize that the companies they invest in have multiple objectives and there is never just one way to accomplish them. Issues can be particularly complex for family-owned businesses. Of course, the ultimate shared goal is that of building a better business and positioning the company for long-term earnings growth.
As a financial partner, Marquette differentiates itself by:
- Extensive business and financial experience.
- Creative, flexible, and responsive approach to business dealings.
The firm is committed to working with management teams and ownership groups to unlock a company’s full potential. While they do not seek any involvement in daily operations, they act as a resource for their partners in a team-oriented approach. They can offer unique advisory assistance in the areas of optimizing capital structure, analyzing acquisitions, and sourcing additional capital from a wide variety of funding sources.
Marquette believes that the investment business is fundamentally a people business, driven by trust and mutual respect. At all times, they regard confidentiality as paramount.
Marquette Capital Partners is based in Minneapolis, Minnesota.
Marquette Capital Partners seeks to partner with strong management teams and ownership groups of successful businesses that require junior capital for a variety of reasons, including:
- Capital to support an acquisition or expansion.
- Capital to restructure existing debt or ownership positions.
- Change of Control
- Capital to support management buyouts or leveraged acquisitions.
Junior capital can take the form of mezzanine capital (subordinated note with or without equity participation), redeemable preferred stock, convertible preferred stock and common stock. Each company and investment opportunity is unique. Thus, they endeavor to customize the form of investment to satisfy the needs of the company and the objectives of its ownership.
Most often, their investments are structured as a form of mezzanine capital, which provides borrowing capability beyond that of senior debt, but minimizes the dilutive costs of equity financing. Typical terms include:
- Amount – From $2 million – $10 million.
- Coupon – Current coupon fixed at 12% – 15%.
- Equity Participation – Can take many forms, including warrants or convertible notes. They will consider deferred interest structures with no equity participation.
- Subordination – Only to the senior debt.
- Maturity – 5 to 7 years.
The firm is focusing on investing in closely-held or fund-owned businesses located in the United States with many of the following characteristics:
- Investment Amounts – Marquette is prepared to invest between $2 million and $10 million in junior capital.
- Desirable Characteristics – Marquette invests in companies that have a proven history of profitability and stable or growing demand for its products or services within readily identifiable niches. Attractive investment candidates have comprehensive operational and financial systems and controls with sustainable EBITDA-margins in excess of 10%.
- Company Size – Marquette invests in companies that have annual revenues between $10 million and $100 million, and annual EBITDA of at least $2 million.
- Industry – Marquette invests in manufacturers of consumer or industrial products, value-added distributors, business to business service companies, and retail businesses. They do not invest in start-ups, early stage venture capital, or real estate businesses.
- Management – Marquette invests in companies that are led by proven management teams whose objectives and incentives are aligned with their financial partners.