CAPITAL MARKETS
Debt capital advisory for consequential financing decisions.
Aparti Capital advises business owners, investors, and management teams on structuring and sourcing debt and structured capital for lower middle market businesses.
CAPITAL MARKETS ADVISORY
The right financing begins with the business.
Capital availability is only one part of a financing decision. The appropriate structure must reflect sustainable earnings, asset coverage, liquidity requirements, existing obligations, and the company’s plans for the capital.
We evaluate these considerations together to identify financing alternatives that fit both the immediate capital requirement and the business that must support it.
01
Cash Flow & Coverage
Recurring cash generation, fixed charges, and the ability to service obligations through a reasonable downside case.
02
Collateral
Receivables, inventory, equipment, and other eligible assets that may support borrowing capacity.
03
Liquidity & Flexibility
Working capital needs, seasonal demands, covenant headroom, and liquidity after financing closes.
04
Structure & Terms
Pricing, amortization, maturity, security, priority, and how each facility fits within the broader capital structure.
FINANCING SOLUTIONS
Capital solutions across the financing spectrum.
We assess the cost, structure, flexibility, and execution requirements of potential financing sources rather than approaching every mandate with a single product.
Senior Cash-Flow Debt
Term loans and revolving facilities underwritten primarily to sustainable operating cash flow and debt-service capacity.
Asset-Based Lending
Borrowing facilities supported by eligible receivables, inventory, equipment, and other business assets.
Equipment Financing
Asset-specific term loans and leases that can support capital expenditures or complement a broader financing.
Private Credit
Nonbank capital solutions where conventional lending parameters do not fully meet a business’s financing needs.
Junior & Subordinated Debt
Supplemental debt capital, where appropriate, to bridge funding needs while considering senior-lender requirements.
Preferred & Structured Capital
Preferred and other structured capital solutions when senior debt alone is not the appropriate financing structure.
OUR APPROACH
Capital is a structure, not a product.
We begin with the company’s cash generation, asset base, financing objectives, and risk tolerance. The goal is not simply to maximize proceeds—it is to design financing the business can sustain.
Our work connects underwriting and capital structure design with targeted outreach, proposal comparison, and coordination through execution.
FINANCING SITUATIONS
Capital for changing business priorities.
Different financing needs call for different sources of capital, structures, and execution strategies.
Growth & Expansion
Financing for investment in capacity, facilities, equipment, and operating growth.
Acquisitions & Buyouts
Debt and structured capital to support purchases, management buyouts, and strategic add-ons.
Refinancing & Maturities
Replacement or restructuring of existing facilities to address maturities, pricing, or flexibility.
Recapitalizations
Capital structures supporting ownership transitions, shareholder liquidity, or balance-sheet changes.
Selective Real Estate Financing
Select commercial real estate debt and preferred equity situations where the mandate fits our advisory focus.
HOW WE WORK
A disciplined process from evaluation to closing.
We coordinate the financing workstream to make alternatives comparable, surface constraints early, and maintain focus on execution.
01
Evaluate
Review financial performance, assets, current obligations, capital needs, and preliminary financing capacity.
02
Structure
Develop financing alternatives and test debt service, liquidity, collateral, and covenant implications.
03
Prepare
Organize financial and transaction materials to support a focused capital-provider review.
04
Engage & Compare
Approach suitable sources, evaluate proposals, and negotiate economic and structural terms.
05
Execute
Coordinate diligence, credit approvals, documentation, and funding with the relevant parties.
FREQUENTLY ASKED QUESTIONS
Questions about debt capital advisory.
What does a capital markets advisor do?
A capital markets advisor helps evaluate financing capacity, structure potential capital solutions, identify appropriate providers, compare terms, and coordinate the financing process. Aparti Capital acts as an advisor, not as the direct lender.
What financing options are available to established businesses?
Depending on the company and transaction, options may include senior cash-flow debt, asset-based lending, equipment financing, private credit, subordinated debt, or structured capital.
How do lenders determine borrowing capacity?
Lenders generally consider sustainable cash flow, fixed-charge coverage, collateral quality, leverage, working capital, existing obligations, and business risk. Underwriting standards vary by provider.
When is private credit preferable to a bank facility?
Private credit may be relevant when a transaction requires a structure, timing, or risk profile outside conventional bank parameters. Its pricing and terms must be evaluated against available alternatives.
When should a company engage a capital markets advisor?
Ideally before a maturity, acquisition commitment, major capital expenditure, or liquidity constraint becomes urgent. Early assessment provides more time to compare structures and address financing gaps.
PERSPECTIVES & INSIGHTS
Perspectives on capital and enterprise.
Research and practical guidance on debt markets, borrowing capacity, and capital structure decisions.
DEBT CAPITAL
Senior Debt vs. Asset-Based Lending
How cash-flow and collateral-based financing differ—and when each may be appropriate.
UNDERWRITING
How Lenders Evaluate Debt Capacity
Cash generation, fixed charges, liquidity, and leverage shape supportable borrowing.
CAPITAL MARKETS
Private Credit in the Lower Middle Market
Where nonbank capital fits within a business financing strategy.
START A CONVERSATION
Evaluating a financing decision? Let’s discuss the capital structure.
Share the business, financing requirement, and your objectives. We will review whether an initial conversation may be appropriate.