Wellington Financial LP is a private equity, venture debt, and venture capital firm specializing in bridge financing and growth capital investments.
The firm does not invest in products that are not completed, in companies without the Chief Executive Officer, companies without revenues, NASDAQ OTC listed companies, and in companies that have recently failed (inexplicably) merger and acquisition auction process.
It seeks to invest in mid to later stage companies that are past the start-up phase of their existence. It also invests in turnaround situations primarily public companies and going private situations, where the firm is the only lender involved.
Source: Wellington Financial
The firm invests in both public and private companies, where the loan it provides makes up less than 20 percent of the post transaction value. It typically invests in automation, automotive parts, biotechnology and healthcare, lifesciences, business services, light manufacturing, oil and gas services, and technology companies.
It seeks to invest in North America with a focus on the United States including San Francisco Bay Area and Canadian based, Canadian listed, or Canadian backed firms.
The firm typically invests between CAD$2 million ($2.01 million) and CAD$10 million ($10.04 million) per transaction and can issue term sheet up to CAD$60 million ($60.24 million) in syndicate.
In mid to later stage private companies, the firm invests in companies that have minimum estimated valuation of CAD$10 million ($10.04 million) and revenues in the range of CAD$5 million ($5.02 million) on a run rate basis. Within public companies, it invests in companies that have minimum market capitalization between CAD$10 million ($10.04 million) and CAD$20 million ($20.08 million) and run rate revenue of at least CAD$10 million ($10.04 million).
The firm provides debt in the form of operating lines, revolving lines of credit, term loans and term debts, and reducing term loans. It offers term loans and debts in the form of acquisitions finance, amortizing venture debt, bridge to equity financing, bridge to sale, bullet term, mezzanine, recapitalization, restructuring, and sub debt.
The firm provides operating lines and SR&ED facilities up to CAD$5 million ($5.02 million);term loans between CAD$2 ($2.01 million) and CAD$40 million ($40.17 million); venture debt loans between CAD$2 million ($2.01 million) and CAD$10 million ($10.04 million);amortizing loans up to US$30 million, and underwrites loans between CAD$2 million ($2.01 million) and CAD$10 million ($10.04 million). It provides operating lines for a 364 or 366 day term; term loans and debts for a period of 3 months to 24 months, to three years in certain cases; and reducing term loan for 6 months to 36 months, an average life of less than 24 months.
The firm also seeks equity in the form of warrants while providing debt to a company. In case of turnaround and turnover, it seeks for a Board or advisory seat in its portfolio company.
Source: Wellington Financial