NorthCoast Mezzanine

NorthCoast Mezzanine is a Minneapolis-based nonbank lender founded in 2012 that provides subordinated debt and non-control equity co-investments to lower middle-market companies across the United States. The firm deploys $4 million to $15 million per transaction, targeting businesses with at least $2 million in EBITDA. NorthCoast focuses on leveraged acquisitions backed by private equity sponsors, management and family-driven ownership transitions, add-on acquisitions, recapitalizations, and growth initiatives. Its principals bring a combined track record of more than 200 mezzanine transactions totaling $900 million of invested capital — meaningful depth for a firm operating in this segment. No minimum credit score or time-in-business threshold applies, reflecting a cash-flow-first underwriting lens. A good fit if you're a profitable lower middle-market business seeking flexible junior capital that sits behind senior debt.