Encore: Mezzanine Funding - An alternative source of capital for established businesses

November 16, 2015
Hosted by Brendan Anderson and Jeffrey Kadlic

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Guest Information

Episode Description

The Second Stage is joined by guest Stephen Gurgovits, Managing Partner at F.N.B. Capital Partners, to discuss mezzanine funding as an alternative source of capital for established and growing businesses. Mr. Gurgovits will not only define exactly what mezzanine capital or debt is, but how it differs from bank debt, acting as either a supplement or alternative to. The hosts will also discuss with their guest specific situations where a business owner would benefit from mezzanine, such as in a management buyout, and the company characteristics mezzanine providers typically look for when partnering. Acting as a bridge between senior debt and equity, there are pros and cons that will be highlighted during the discussion. Mezzanine providers tend to be more aligned with a business and its goals versus a traditional bank, as their focus is on a company’s cash flow and potential versus merely its collateral and asset value. To learn more, join The Second Stage discussion at 5:00pm EST.

The Second Stage

The Second Stage

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The Second Stage serves as an entrepreneurial forum to exchange ideas and best practices amongst peers. While each business is unique, most companies face the same obstacles on their path to success. The topics and trends addressed within this community of like-minded individuals will include financials and reporting, valuation and value creation, succession planning, human resources, technology, insurance and benefits, as well as many others. The show will be delivered from the perspective of the hosts who view opportunities from both an entrepreneurial and institutional private investor perspective.

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Brendan Anderson and Jeffrey Kadlic

Brendan Anderson and Jeffrey Kadlic

Brendan Anderson has spent the past 20 years as an investor and manager of businesses ranging from manufacturing to financial services. Fascinated by the capital gap within the small business growth sector, he rapidly came to the conclusion that providing best practices in addition to growth capital could consistently produce great results for the management, employees, communities, and investors. He is an active member and mentor within Entrepreneurs’ Organization, and is continuously entrenched in its culture of best practices.

Jeffrey Kadlic spent the first 10 years of his career making private investments in an institutional setting. Early success was achieved in large part to an entrepreneurial mindset within a corporate culture. While practicing as an institutional investor, working in and around dynamic small businesses, he recognized that growing small businesses needed more than just an influx of cash to scale operations. Leveraging corporate practices within an entrepreneurial setting, in addition to the capital, was the best way to achieve great performance.

Brendan and Jeffrey are both alumni of Crain’s Forty under 40 and E and Y Entrepreneur of the Year finalists.

Connected by their passion for growing small companies, in 2005, Anderson and Kadlic partnered to co-found Evolution Capital Partners, focused exclusively on advising and investing growth capital in Second Stage Companies. Evolution and its companies recognized on the Inc.500 5000.

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