Langdon Capital has been co-mandated, alongside our US partner firm, to raise US$50 million for a US insurance business. The capital will be used for regulatory capital, the expansion of operations and the next phase of scaling. The mandate is a useful illustration of the underwriting we carry out before we agree to take a client to market. Our underwriting process When a prospective client approaches us to raise capital, we run our own underwriting process. We look for a d

Clients often ask us to finance buy-and-build strategies across a range of industries. But if the industry has poor quality of earnings, the strategy doesn't have legs and won't get funded — unless the acquirer has a PE sponsor backing them with a significant cash equity injection on day one at completion. Lenders will want to know whether your business and the targets you acquire can service their debt; equity investors will want to know whether you can deliver growth on top

We have a truly unique funding solution for established UK property developers with strong track records who want to scale. Product parameters: For qualifying developers and schemes: Our investor will fund 90% of the equity requirement of your scheme's total cost. Funds will be released in stages in line with the scheme’s needs. Debt/equity mix: Our investor will decide whether to fund your scheme’s total cost entirely in equity (typically smaller schemes) or through a mix of

Clients embarking on the first acquisitions of their buy-and-build strategy often ask us the same question: what is the minimum amount of capital they need to secure institutional debt funding? As a primer, we recommend reading our article on the essentials for launching a buy-and-build strategy: https://www.langdoncap.com/post/buy-at-4x-sell-at-10x-what-you-need-to-fund-your-first-buy-and-build-acquisition A real life example: The proposed deal: Equity alignment: Founders in

Few strategies in the lower mid-market are as elegant, or as widely underestimated, as buy-and-build. The premise is simple to state and demanding to execute: acquire several small, profitable companies at modest earnings multiples, combine them into a single larger group, and sell that group a few years later at a materially higher multiple. The gap between the price you pay going in and the price you achieve coming out is the multiple arbitrage, and it is where a great deal

Our client already had USD 40m in equity invested from a US institutional investor. It has an USD 11m annual cash burn and is pre-revenue. As an AI powered tech firm, it has secured government contracts globally to become the merchant of record for any and all payment transaction type within a particular country, from utility bill payments to restaurant, taxi, hotel and flight bookings. The business has just secured its first revenue of USD 6m but has USD 7m in debt due in 3

A live USD 15 million equity raise for a US healthcare buy-and-build shows why the market rejected a 15% minority stake with no control - and how pivoting to a controlling stake turned a market-wide rejection into serious investor interest within a day.