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Debt Advisory & Placement • Dallas, Texas

Debt Capital for Middle-Market Companies and Fund Managers

Sabine Growth Capital Partners is a debt advisory firm. We arrange and place debt financing with banks, non-bank lenders and private credit funds on behalf of borrowers. Facilities up to $150 million. Since 2010.

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2010
Founded
Sub $150M
Facility Size
22
Facility Types
3
Lender Channels
Where the Capital Comes From

Three Lender Channels

We are not tied to one type of lender. Each financing goes to the channel, or the combination of channels, that fits the credit. That is the point of using an advisor instead of calling a single lender.

Banks

Commercial banks and specialty bank groups, including fund finance desks, asset-based lending groups, and regional banks prepared to take a full treasury relationship. Usually the lowest cost of capital when the credit fits inside bank parameters.

Non-Bank Lenders

Specialty finance companies, factors, asset-based lenders, equipment and floorplan lenders, and warehouse providers. They underwrite collateral and structure rather than cash flow alone, and they will look at situations a bank cannot.

Private Credit Funds

Direct lenders, BDCs, credit funds, and family offices. They offer speed, size, and structural flexibility, including unitranche and junior capital, at a higher cost than bank debt.

We run each financing across the channels that fit it, and we work for the borrower.

What We Do

Middle-Market Debt Advisory

We advise borrowers on capital structure, then run the process to place the debt. Corporate credit, fund finance, acquisition financing, working capital, and special situations. We take each mandate to banks, non-bank lenders and private credit funds, and we negotiate on the client's side of the table.

Corporate Credit

Senior, unitranche, stretch senior and first-out-last-out, plus second-lien, mezzanine, holdco notes and preferred equity when senior capacity is not enough.

Fund Finance

Warehouse and SPV facilities, subscription and capital call lines, NAV facilities, and management company loans for fund managers and sponsors.

Liquidity & Working Capital

Revolvers, asset-based lending, factoring and receivables finance, and recurring-revenue facilities for businesses with collateral or contracted revenue.

Acquisition & Ownership Transition

Debt for platform acquisitions and bolt-ons, cross-border structures, and shareholder redemptions where an owner is buying out a partner or retiring.

Special Situations

Rescue and opportunistic capital, recapitalizations, and balance-sheet restructuring for stressed or time-sensitive situations where certainty of close matters most.

Structuring & Analysis

Debt capacity models, borrowing base and covenant analysis, and lender-ready materials. Sometimes the first question is how much debt the business can actually carry, not who will lend it.

View all 22 facility types →
Financing Solutions

The Facilities We Arrange

Twenty-two facility types across corporate credit, fund finance, working capital, acquisition and ownership transition, and special situations. We place them with banks, non-bank lenders and private credit funds, depending on which channel gives the client the best result.

Sub $150M
Facility Size
Companies & Funds
Borrower Types
U.S. & Cross-Border
Geographic Focus

Liquidity & Working Capital

Revolver / Working-Capital Line

For seasonal liquidity, receivables swings, inventory, and general working capital. Available from banks and from non-bank lenders, and often the facility that stays in place after a refinancing.

Asset-Based Lending / Asset-Backed Finance

When the business has strong collateral but weaker cash-flow lending capacity. Covers receivables, inventory, hard assets, structured debt, consumer and commercial finance receivables, and bilateral ABL structures.

Factoring & Receivables Finance

Sale or financing of trade receivables, on a recourse or non-recourse basis, where the credit rests on the account debtors rather than the borrower. Useful for growing or thinly capitalized businesses that cannot yet support a conventional revolver.

Base Leverage

Funded Term Loan

Drawn at closing for refinancing, dividends, acquisitions, or general corporate purposes. One of the core building blocks in middle-market capital structures, from both banks and direct lenders.

First-Lien Senior Secured Loan

The plain-vanilla senior facility. Sits at the top of the capital structure, usually secured by substantially all assets. Priced tightest at a bank and priced for flexibility at a credit fund.

Unitranche

Combines what would otherwise be separate senior and junior debt into one facility, one lender group, and one document set. Faster and simpler than a bank-plus-mezzanine structure, at a blended cost between the two.

Stretch Senior / First-Out-Last-Out

Variations of senior debt that let lenders allocate risk internally while presenting a cleaner, single-facility solution to the borrower. Common where a bank and a credit fund share one facility.

Fund Finance

Warehouse & SPV Facilities

Facilities that let a manager fund investments ahead of capital calls or ahead of a permanent vehicle, secured by the underlying holding companies or assets. Often structured with a master borrower so a new loan document is not needed for each investment.

Subscription / Capital Call Lines

Revolving facilities secured by uncalled LP commitments and the right to call capital. Used to smooth funding timing and reduce the number of capital calls made on investors.

NAV Facilities

Leverage against the net asset value of a fund's portfolio, typically later in the fund's life when uncalled commitments no longer support a subscription line. Used for follow-on capital, liquidity, or distributions.

GP & Management Company Loans

Facilities to the general partner or management company, supported by management fee income or GP commitments. Used to fund GP co-invest obligations or working capital at the firm level.

Future Funded Needs

Delayed-Draw Term Loan (DDTL)

Committed capital for future acquisitions, capex, integration costs, or liquidity support, rather than drawing all proceeds on day one. Can be structured creatively, including as payment DDTLs.

ARR-Based / Recurring-Revenue Facilities

For software and tech-enabled businesses where traditional EBITDA underwriting does not capture credit quality well. Recurring-revenue leverage structures are now standard in the middle market.

Leverage Beyond Senior Capacity

Second-Lien Debt

Junior to first-lien but still debt, not equity. Useful when the borrower needs more leverage than a senior lender will provide but does not want to fill the gap entirely with equity.

Mezzanine Debt

Subordinated junior capital, often with a higher coupon and sometimes equity-linked upside. The classic gap filler when senior or unitranche capacity is not enough.

Holdco Notes / Holdco PIK

Structurally subordinated facilities issued at the holding company level. More bespoke and typically more expensive, but they can solve capital-structure problems when operating-company leverage is constrained.

Preferred Equity

Not debt in the strict sense, but part of the broader non-control capital solution set. Bridges a financing gap without the common-equity dilution of a straight equity round.

Acquisition & Ownership Transition

Acquisition Financing for Independent Buyers

Senior and junior debt for buyers without a fund behind them: independent sponsors, search-style acquirers, operators, and family businesses. Structured alongside buyer equity and a seller note, and built for buyers who are not SBA eligible.

Cross-Border Acquisition Structures

Financing where the parent and the target sit in different countries, most often between the United States and Canada. Addresses guarantee structure, collateral perfection in each jurisdiction, and which side of the border the lender should sit on.

Shareholder Redemption & Ownership Transition

Debt to buy out a departing or retiring shareholder without selling the company. Starts with a debt capacity analysis showing what the business can actually support, then places the facility that funds the redemption.

Complex & Stressed Situations

Special Situations / Rescue / Opportunistic Capital

For unusual or stressed cases: covenant pressure, a failed sale process, a near-term maturity wall, an acquisition that needs speed, or refinancing risk. More bespoke and typically more expensive, but designed for situations where flexibility and certainty matter most.

Recapitalization & Balance-Sheet Restructuring

Where the problem is the existing capital structure rather than the business. Includes negotiated payoffs at a discount, debt-for-equity conversions, and bringing in new control or minority equity alongside a right-sized senior facility.

How We Work

Our Process

From the first conversation to closing, we manage the financing process so you can keep running the business.

1

Situation Assessment

We learn your business, capital needs, and timeline. We evaluate the full picture—cash flows, collateral, growth plans, and existing capital structure—to identify the right financing approach.

2

Structure & Strategy

We design the capital structure and build the target lender list across banks, non-bank lenders and private credit funds. You get a clear recommendation on facility type, terms, and how the story should be positioned to each channel.

3

Market & Execution

We prepare materials, run a targeted lender process, negotiate terms on your behalf, and manage the diligence workstream. We drive competitive tension to get you the best outcome.

4

Closing & Funding

We coordinate documentation, manage closing mechanics, and ensure funds flow on schedule. After close, we remain available for future capital needs.

Track Record

Representative Engagements

Selected mandates showing the range of borrowers, structures and lender channels we work across.

Fund Finance

Warehouse Facility for a Venture Manager

Engaged by a venture capital manager to arrange a warehouse credit facility allowing it to fund investments ahead of LP capital calls. Structured a master holding company borrower so that a new loan document is not required for each investment vehicle, and ran the process with bank fund finance desks and non-bank warehouse providers in parallel, quoting the facility with and without a letter-of-credit backstop so the manager could price what the credit support was actually worth.

Facility
Warehouse / SPV Line
Lender Channel
Bank & Non-Bank
Specialty Finance

Recapitalization of a Wholesale Lender

Engaged as exclusive financial advisor and debt arranger on the recapitalization of a specialty finance company carrying legacy debt well above what the business can service. Built the capital structure model, borrowing base and liquidation analysis, with a senior lender process now running alongside negotiations with the incumbent lender on a settlement that would combine cash at closing with a conversion of the balance to equity, leaving the company with a senior working capital facility in place of the legacy stack.

Facilities
Senior Facility + Recap
Situation
Balance-Sheet Restructuring
Family-Owned Distribution

Shareholder Redemption Capacity

Engaged by a closely held distribution business where one of two voting shareholders wanted to be bought out over a period of years. Built the cash flow model to answer the question the owners actually had, which was whether the company could carry the redemption payments alongside its existing obligations, and then framed the structure and the debt that would fund it.

Scope
Debt Capacity & Structuring
Situation
Ownership Transition
Manufacturing

Refinancing Under Pressure

Engaged by a precision manufacturer facing a near-term maturity wall with its incumbent bank group. Ran a targeted process across banks and direct lenders and arranged a new first-lien facility on improved terms, giving the company runway to execute its growth plan.

Facility
First-Lien Term Loan
Situation
Refinancing

Representative engagements, including current mandates. Client identities are withheld and transaction details have been generalized.

Leadership

Our Team

Experienced professionals with deep expertise in middle-market credit and capital markets.

Todd Foster

Founder & Managing Partner

Founded Sabine in 2010. Over 20 years of experience in commercial banking, corporate finance, private equity, and venture capital investing. Former commercial banker with Citigroup in New York and Dubai, Special General Partner at Cottonwood Capital Partners, and Vice President at Frontline Capital Group in New York. Leads the firm's advisory practice, structuring and arranging debt financings for middle-market companies and fund managers with banks, non-bank lenders and private credit funds. Previously a FINRA registered representative (Series 63 and 82). MBA in Finance, Emory University. BA, Vanderbilt University.

Bronson Stocker

Managing Director

Advisor to Sabine since 2015. Over 30 years of experience across corporate finance, credit markets, and advisory. SVP at Bank of America for 15 years in Dallas and London, managing trade finance for Western U.S. operations and middle-market banking relationships. Director at Standard & Poor's for 10+ years, managing rated issuer relationships across oil & gas, chemical, healthcare, technology, media, and retail sectors—covering public debt markets, syndicated loans, and M&A financings. Structured $2–$100M export financings for foreign governments at Bell Helicopter Textron. Former CFO at G2Lytics (AI/data science) and Partner at Quarternight Financial Services. CPA (KPMG). BBA Accounting, University of Texas at Austin.

Scott Alan Giambalvo

Managing Director

Advisor to Sabine since its inception in 2010. Brings deep expertise in healthcare services, medical devices, and health-tech commercialization. Previously EVP at OraMetrix and Director at Stryker Corporation, where he spent 14 years building divisions across the U.S. and Canada. Founder of Scott Alan Enterprises, providing commercialization and interim CEO services to medical device and health IT companies. MBA from Carnegie Mellon (Tepper), Harvard Business School Leadership Academy, Cornell University.

Our Advantage

Why Sabine

Speed & Certainty

We move fast. Our lender relationships and market knowledge let us identify the right capital source quickly and drive a process to term sheets in weeks, not months.

Full Product Range

Twenty-two facility types across corporate credit, fund finance, working capital, acquisition finance and special situations. We design the right structure for your situation rather than fitting you into whatever product a single lender happens to offer.

Channel Neutral

We have no balance sheet to protect and no single lender to feed. A bank, a non-bank lender and a private credit fund each price the same credit differently, so we run them against each other and let the market answer the question.

Aligned Advocacy

We represent the borrower, not the lender. We negotiate on your behalf and create competitive tension in the market to get better terms, pricing and flexibility.

Since 2010

We have arranged financings through multiple credit cycles. We know which lenders are active in a given quarter, what terms are actually achievable, and where a deal is likely to break.

Complex Structures

Cross-border parent and operating company groups, holding company chains, SPVs and fund vehicles, and specialty finance collateral. The situations where the structure, not the credit, is what makes a lender hesitate.

Get in Touch

Submit a Deal

Whether you are a business owner, a fund manager, a sponsor, or an intermediary, tell us about the financing need and we will tell you which lenders should see it.

Contact Information

We review every submission and respond within 48 business hours.

Address
1901 N. Akard Street
Dallas, Texas 75201
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