First Quarter, 2025

ACQUISITION FINANCING

The case studies, deals, sectors and issues driving middle market acquisition financing for 2025.

Top Story

Acquisition Financing in the Middle Market: The Shift to Alternative and Specialty Debt Solutions

Acquisition Financing in the Middle Market: The Shift to Alternative and Specialty Debt Solutions

Introduction: A New Playbook for Private Equity and Specialty Finance The middle market’s acquisition financing game has flipped over the past 15 years. Private equity (PE), armed with institutional capital hunting yield, and specialty finance, with its knack for creative solutions, have rewritten the rules. Gone are the days when bank-led cash flow lending ran the show. Since the 2008 Global Financial Crisis (GFC), sponsors...

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Sector Spotlights

Sector Spotlights

The Case for High Velocity Underwriting in Middle Market and SME Deals

The Case for High Velocity Underwriting in Middle Market and SME Deals

Joe Camberato, CEO of National Business Capital, breaks down how his firm closes multimillion-dollar deals in days instead of weeks — and the discipline that makes that speed work.Listen to the full podcast on YouTube or Spotify.https://youtu.be/PkHLzJJA2zcRita Garwood: Hi everyone, I'm Rita Garwood,...

TMA Leading Edge Series with Adam Duso: Out-of-Court: A Path to Value Preservation

TMA Leading Edge Series with Adam Duso: Out-of-Court: A Path to Value Preservation

https://www.youtube.com/watch?v=hsgPwUc2Wr8 TMA’s global community — spanning advisors, attorneys, lenders, and operators — plays a critical role in helping businesses navigate complexity, adapt to change, and recover stronger. Behind every successful turnaround is a network of experienced professionals collaborating to solve...

SSG Advises Blue Spark Technologies in the Sale of Substantially All Assets to BST Technology Acquisition

It’s about Collections – Not Billings

Healthcare providers occupy a strange financial position. They are rich in receivables yet chronically short on cash. A hospital, skilled nursing operator or physician group can deliver millions of dollars in billable care each month and still struggle with cash...

Featured Case Study

The Aaron’s Company, founded in 1955, leads the lease-to-own industry with over 1,200 stores and a strong e-commerce platform across the U.S. and Canada. In 2022, it acquired BrandsMart U.S.A., enhancing its market reach. In 2025, facing a complex take-private acquisition, Aaron’s partnered with Second Avenue Capital Partners (SACP). SACP provided a tailored lending solution, ensuring liquidity, stability, and growth potential, seamlessly guiding Aaron’s into private ownership with expertise and precision.

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