Most business owners and even many M&A advisors think their financing options boil down to two choices: borrow more money or sell the company. On this episode of The M&A Mastermind Podcast, host Nick Olsen sits down with Graham Bachman, Managing Director and Head of Business Development at Hidden River Strategic Capital, to break down structured capital — a flexible, customized blend of debt and equity built for lower middle market businesses whose needs don’t fit neatly into a conventional loan or a control sale. Graham walks through when structured capital makes sense, when it doesn’t, and why understanding the true cost of capital goes far beyond the interest rate or valuation on the term sheet.
In This Episode, You’ll Learn:
- Why “borrow or sell” is a false choice, and what a third path looks like for business owners
- The four most common scenarios for structured capital: acquisition financing, growth capital, balance sheet restructuring, and shareholder liquidity
- High-level definitions of senior debt, mezzanine debt, and equity — and where structured capital fits between them
- How structured capital can resolve a 50/50 partner buyout without forcing a full sale or diluting control
- Why the cheapest capital on paper can become the most expensive option over time
- The warning signs that structured capital is not the right fit, including distressed situations and full-exit scenarios
- What advisors should ask business owners early in a conversation to identify the right capital structure
- How Graham and Hidden River work with M&A advisors, investment bankers, and business owners directly
About the Guest:
Graham Bachman is Managing Director and Head of Business Development at Hidden River Strategic Capital, a Philadelphia-based investment firm that provides flexible, structured capital to owner-operated lower middle market businesses. Hidden River invests between $7.5 million and $25 million into U.S. companies generating at least $10 million in revenue, combining elements of debt and equity to fund acquisitions, growth, balance sheet restructuring, and shareholder liquidity without forcing owners to give up control of their business. Learn more at hiddenrivercap.com or connect with Graham on LinkedIn.
About the Show:
The M&A Mastermind Podcast provides actionable insights and effective strategies tailored for dealmakers in the lower middle market. Hosted by Nick Olsen, the show features conversations with leading industry experts who share valuable knowledge on topics such as industry intelligence, deal management, collaborative successes, and specialized expertise. Listeners who support small to medium-sized business owners will find practical tactics and advice they can immediately apply to advance their mastery in mergers and acquisitions.
If you enjoyed this episode, please subscribe, rate, and leave a review — it helps more lower middle market dealmakers find the show.
Tune in Every Week:
- YouTube: https://www.youtube.com/@cornerstone_intl_alliance
- Apple Podcasts: https://podcasts.apple.com/us/podcast/the-m-a-mastermind-podcast/id1726394585
- Spotify: https://open.spotify.com/show/4fpVjEXbJ0FXKMgEK0m7QQ
- Website: https://cornerstoneia.com/podcast
Resources & Links:
- Hidden River Strategic Capital: https://hiddenrivercap.com
- Graham Bachman on LinkedIn: https://www.linkedin.com/in/grahambachman
- Nick Olsen on LinkedIn: https://www.linkedin.com/in/nick-olsen2328/
- Cornerstone International Alliance: https://cornerstoneia.com/
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Always Remain Sellable Feat. Mike Lambrix | Ep. 105
In this episode of the M&A Mastermind podcast, host Nick Olsen speaks with Mike Lambrix, a seasoned expert in mergers and acquisitions, about the importance of maintaining a mindset of ‘always being sellable.’ They discuss proactive strategies for business owners to prepare for a potential sale, the significance of due diligence, and the emotional aspects of transitioning ownership.