Citizens Capital

 

Investment Philosophy
Citizens Capital is an active financial partner that seeks to build strong working relationships with the management teams we back. We offer financial and strategic advice - serving as a board observer, or in select cases, as a board member - yet will leave the everyday business operations to management. We can act as either a sole investor or as a co-investor with other private equity groups.

Types of Transactions
Drawing on the collective experience of the Citizens Capital team and the strong financial backing of Citizens Financial Group, we can provide customized financing solutions to facilitate a wide variety of transactions, including:

  • Acquisitions
  • Growth and Expansion Financing
  • Recapitalization
  • Buyouts
  • Generational Transfers

    • Company Characteristics
    We invest in a broad range of businesses across a wide array of industries and look to back management teams that possess deep industry knowledge, a proven track record and a reputation for high integrity. Specifically, we look for companies:

  • in later stages with $15 million to $250 million in revenue.
  • with a minimum EBITDA of $3 million for mezzanine investments.
  • that have a proven track record of profitability and revenue growth.
  • with distinct and sustainable competitive advantages.
  • in established, well-defined industries with positive growth characteristics.

    • Flexible Pricing and Investment Structures
    Our ability to provide both mezzanine and equity capital (in many cases, in the same transaction) allows us to structure creative and flexible transactions. Some of the desired terms for our mezzanine and equity investments are:

    Mezzanine Capital

  • Sponsor or sponsor-less transactions
  • Subordinated debt investments of $3 million to $15 million per transaction
  • 10% - 13% cash coupons
  • PIK component and all-rate deals available
  • Warrants for equity ownership
  • Five to seven-year maturity
  • Board observer status

    • Growth Equity

  • Sponsor or sponsor-less transactions
  • Investments of $1 million to $3 million per transaction
  • Convertible preferred stock
  • Redeemable preferred stock
  • Five to seven-year investment horizon
  • Board seat