Expansion stage
Financing for growth and expansion of a company which is breaking even or trading profitably. Capital may be used to finance increased production capacity, market or product development, and/or to provide additional working capital. This stage includes bridge financing and rescue or turnaround investments.
Replacement Capital
Purchase of shares from another investor or to reduce gearing via the refinancing of debt.
Buyout
A buyout financing typically targets the acquisition of a significant portion or majority control of businesses, which normally entails a change of ownership. Under Buyout financing we would ordinarily invest in more mature companies with established business plans to finance expansions, consolidations, turnarounds and sales, or spinouts of divisions or subsidiaries. Financing expansion through multiple acquisitions is often referred to as a "buy and build" strategy.
