Investment & Merchant Banking
to the Middle Market

Process and Fees

Typical Private Placement Process

Typical Private Placement Process can take approximately 12 weeks depending upon access to management and availability of financial information.

Analyze business & create financial valuation models

Review of capital market structures

Establish and negotiate purchase price

Identify investor pool

Select round 1 investor prospects

Make initial investor contacts to preview deal

Identify key selling points

Create and distribute Executive Summary

Review preliminary investor feedback

Settle on final capital structure and finalize models

Finalize Confidential Memorandum

Identify serious parties of interest

Circulate memos to interested prospects

Follow-up on questions

Receive initial proposals

Review Proposals

Select investor (or investors if run parallel) to conduct further diligence

Arrange management presentations and site visits

Respond to investor diligence questions and requests

Receive commitment letters

Negotiate final commitment terms

While all engagements are different, Triton's typical fee structure includes a combination of the following:

Success fee based on:

% Capital raised (Senior, Subordinated Debt & Equity)
% Purchase price (Enterprise Value) of the business purchased or sold (Lehman Scale index is often used depending upon size)
Specific amount tied to a successful reorganization process (terms and parameters may vary significantly depending upon the specific engagement)

- AND –

One Time or Monthly Retainer:

A monthly retainer paid at execution and monthly thereafter (often with a minimum number of months depending upon size and scale of project)

(Note that up to 100% of retainer payment is credited to the success fee at close)