Northcreek Mezzanine

What Northcreek Mezzanine does

Northcreek Mezzanine is a Cincinnati-based, federally licensed Small Business Investment Company (SBIC) that provides dynamically structured mezzanine debt and equity financing to lower-middle market companies throughout the United States. Established in 2010 by Barry Peterson and Rodger Davis — both of whom began making investments in the mid-1980s and previously built Provident Capital Corp and Private Capital Solutions together — the firm targets profitable companies with at least $1 million in EBITDA, deploying $1 to $12 million per transaction over 3-5 year terms for ownership transitions, acquisitions, buyouts, recapitalizations, and growth financings. The firm operates industry-agnostically across any U.S. geography, engaging directly with business owners, management teams, and private equity sponsors.

The firm manages $700M+ in assets across 80+ portfolio investments in 27 states. Its core product is bespoke capital structuring — typically a combination of subordinated debt with attached warrants or equity co-investment — priced via competitive fixed rates and fees adjusted for risk and leverage. Northcreek's SBIC license provides access to SBA leverage, lowering its cost of capital relative to unlicensed peers. The investment team of approximately 10 professionals includes founding partners, a partner, two senior vice presidents, two vice presidents, and operations staff, sourced from JPMorgan Chase, Fifth Third Bank, Macy's, and Deloitte.

Revenue is generated through management fees on committed and invested capital, interest income on deployed mezzanine debt, and equity returns realized at exit. Fundraising occurs on multi-year cycles: Fund III closed at $175M-plus in 2019, and Fund IV closed at $267M-plus in December 2024, the firm's largest fundraise to date. Distribution is exclusively direct — relationship-driven origination through PE sponsor networks, ACG intermediaries, investment bankers, and attorneys — with no retail, digital, or channel intermediaries. Brand and pipeline are reinforced through regional earned media (Cincinnati Business Courier) and ACG industry awards.

Name

Northcreek Mezzanine

Legal name

Northcreek Mezzanine

Website

https://northcreekmezzanine.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Northcreek Mezzanine is a Cincinnati-based licensed SBIC providing $1M-$12M of structured mezzanine debt and equity to lower-middle market companies across the U.S., serving business owners, management teams, and private equity sponsors with $700M+ in AUM.

Ownership category

akta.pro rank

Product category

Mezzanine Debt and Private Capital

NAICS

Credit Intermediation and Related Activities (522), Other Financial Vehicles (52599)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Mezzanine / Subordinated Debt (FSANADAC)

akta.pro secondary industry

SBIC Venture Debt Funds (FSANAIAD)

Keywords

• Mezzanine debt financing
• Lower middle market investing
• SBIC private credit
• Private equity co-investment
• Growth and acquisition capital

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Mezzanine Debt Investments: Provides mezzanine debt financing to lower-middle market companies with investments ranging from $1 to $12 million, 3-5 year terms, with competitive fixed rates and fees adjusted for risk and leverage.
2. Equity Investments: Takes equity positions in portfolio companies alongside mezzanine debt, generating returns through capital appreciation and exits.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Northcreek Mezzanine provides creatively structured mezzanine debt and equity investments to U.S. lower-middle market companies, with typical investment sizes of $1 to $12 million over 3-5 year terms. As a licensed SBIC, the firm fills the financing gap between senior bank debt and dilutive private equity for profitable companies with $1M+ EBITDA, supporting ownership transitions, acquisitions, buyouts, recapitalizations, and growth financings. The firm operates as a relationship-driven investment partner working directly with business owners, management teams, and private equity sponsors.

Product overview

Northcreek Mezzanine is a Small Business Investment Company (SBIC) that provides dynamically structured mezzanine debt and equity investments to lower-middle market companies. The company's core offering is investment capital financing rather than a traditional software product. Their investment products include mezzanine debt and equity investments targeting profitable companies with $1 to $12 million investment size, 3-5 year terms, structured for recapitalizations, acquisitions, buyouts, or growth financings. The company works with management teams, business owners, and private equity groups to provide capital for business acquisitions or buyouts, growth capital including acquisition of equipment, product lines and/or personnel, and capital to deleverage a balance sheet. Northcreek Mezzanine manages $700M+ across 80+ investments in 27 states.

Differentiator

Problem solved

Functional benefit

Products and services

• Mezzanine Debt Financing Custom-structured mezzanine debt investments of $1 to $12 million with 3-5 year terms, offered at competitive fixed rates and fees adjusted for risk and leverage. Designed to fill the financing gap between senior bank debt and dilutive equity for profitable U.S. lower-middle market companies with $1M+ EBITDA. Used for ownership transitions, acquisitions, buyouts, recapitalizations, and growth financings.
• Equity Investments Equity co-investments taken alongside mezzanine debt in portfolio companies, generating returns through capital appreciation and exits. Often paired with the firm's mezzanine debt investments to support ownership transitions, management buyouts, and growth financings for lower-middle market companies.
• Senior Debt Financing Senior debt provided as part of dynamically structured capital solutions for lower-middle market companies, used alongside mezzanine debt and equity to fund ownership transitions, acquisitions, growth financings, and balance sheet deleveraging.

Named customers19 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Small Business Investors Alliance (SBIA)coreOthers · 1 January 2010Northcreek Managing Partner Rodger Davis serves on the Board of Directors of the Small Business Investors Alliance (SBIA), an industry association for SBICs and small business investors.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/northcreekmezz
• LinkedInlinkedin.com/company/northcreek-mezzanine-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northcreek Mezzanine