Search Results

Mizzen Capital primarily invests debt into U.S. based lower middle market companies. About Mizzen Capital provides flexible debt solutions to U.S. lower middle market companies, structuring capital to meet each company's specific growth and operational objectives. We maintain rigorous transparency standards and align our interests with management teams to create sustainable value for all stakeholders. We serve as fiduciaries to our clients, deploying capital that strengthens middle-market companies and supports the livelihoods of their employees, suppliers, and communities across America. Our Team Marilyn Adler Managing Partner Liddy Karter Managing Partner Annie Li Managing Director Strategy A company's success is our success. Our interests must be aligned and our commitments to each other must be clear and achievable. Investment Characteristics Targeting companies with EBITDA of $1M to $15M Emphasis on business models with free cash flows, recurring revenues and lower capex and consistent historical financial performance Strong, Experienced Management team with demonstrated commitment to success Defensible industry leadership or distinguished market niche Growing market with fundamental value proposition Asset base or reliable cash flows to support loans. Located in the United States or its territories Industry Sectors Manufacturing Industrial Business Services Healthcare Services Information Technology Software Energy Transition Transaction Structures Senior Secured First Lien, Senior Secured Second Lien, Mezzanine With Warrants and Equity Co-Investment. Under 4x leverage Use of Proceeds: Including but not limited to providing working capital, recapitalizations, acquisitions, and growth Investment Size can range up to $30M, larger loans will be syndicated. Smaller transactions will be considered if they are integral to a larger relationship Download Mizzen Deal Flyer Mizzen Philosophy and ESG Impact Mizzen employs ESG approach to investing The success of Mizzen Management, LLC (“Mizzen”) depends on the success of our portfolio companies, our investors, our colleagues and our communities and we consider all of them in our decisions. Small businesses provide the vitality and foundation of communities and Mizzen is dedicated to supporting the growth of small U.S. based businesses. Mizzen is a women-owned SBIC fund with a diverse and inclusive team that connects us to diverse ownership teams seeking investment. Mizzen: Value honesty and integrity in everything we do. Strive to act responsibly and to communicate clearly. Build long term relationships based on trust and respect. Empower our team and companies with aligned goal. Mizzen commits to U.N. PRI Incorporate ESG issues into our investment analysis and decision-making processes. Be active owners and incorporate ESG issues into our ownership policies and practices. Seek appropriate disclosure on ESG issues by the entities in which we invest. Promote acceptance and implementation of the Principles within the investment industry. Work together to enhance our effectiveness in implementing the Principles. Report on our activities and progress towards implementing the Principles Mizzen is committed to uphold the U.N. principles of responsible investing (“U.N. PRI”) in the following manner: Download Mizzen Impact Report 2021 2022 2023 2024 2025 Current Portfolio Filter By Industry A Water Infrastructure Distributor  $5,650,000 May 14, 2026 Term Loan and Equity Globe A HVAC and Plumbing Platform $8,250,000 Apr 1, 2026 Term Loan and Equity Globe A Precision Tooling Manufacturer   $4,000,000 May 7, 2026 Term Loan Globe A Recycling Services Company $11,000,000 Feb 20, 2026 Term Loan $2,500,000 Mar 30, 2026 Globe An Iron Castings Manufacturer   $9,000,000 Apr 30, 2026 Term Loan Globe A Warehousing Services Provider $6,000,000 Feb 2, 2026 Term Loan and Equity Globe A Multi‑State Landscaping Services Platform $13,000,000 Mar 19, 2026 Term Loan Globe An Aerospace Parts Manufacturer $5,000,000 Jan 26, 2026 Term Loan Globe View More Insights In a Market Digesting Risk, Mizzen Management LLC (“Mizzen”) Delivers Resilient Alpha December 2, 2025 Mark as Starred Mizzen Management LLC (“Mizzen”) Defies Market Slowdown: Record $80M Deployment Sets Pace for Private Credit Growth November 21, 2025 Mark as Starred The Fed’s rate cut leads to lower yields and higher borrower quality and spreads remain steady. November 11, 2025 Mark as Starred Thinking Small: How Mizzen Capital Captures Premium Returns in Private Credit's Next Era September 12, 2025 Mark as Starred View More Mizzen News Mizzen Fund Completes Financing to a Water Infrastructure Distributor  May 21, 2026 Mark as Starred Mizzen Fund Completes Financing to a Precision Tooling Manufacturer   May 20, 2026 Mark as Starred Mizzen Capital at the “Most Influential Women” Dinner May 15, 2026 Mark as Starred Mizzen Fund Completes Financing to an Iron Castings Manufacturer   May 12, 2026 Mark as Starred Marilyn Adler represented Mizzen Capital at the iGlobal Forum Independent Sponsor Dealmakers Meeting Apr 23, 2026 Mark as Starred View More

Current Portfolio Filter By Industry A Water Infrastructure Distributor  $5,650,000 May 14, 2026 Term Loan and Equity Globe A HVAC and Plumbing Platform $8,250,000 Apr 1, 2026 Term Loan and Equity Globe A Plumbing Company $6500,000 Jan 16, 2026 Term Loan and Equity $1,300,000 Apr 16, 2026 Globe A Towing Company $11,500,000 Sep 17, 2025 Term Loan & Equity $3,277,000 Mar 17, 2026 Globe A Landscape Management and Maintenance Company $7,400,000 Jul 2, 2025 Term Loan Globe A Pest Control Management Company $13,500,000 Feb 7, 2025 Debt and Equity Globe A Furniture Staging Company $3,500,000 Jul 26, 2024 $5,000,000 Sep 2, 2022 Globe An Electrical Testing Company $500,000 Mar 15, 2024 $16,000,000 Dec 28, 2023 $2,800,000 Dec 4, 2025 Globe A Government IT Solutions Provider $16,000,000 Debt and Equity Jul 17, 2023 Globe A Critical Infrastructure Service Provider $2,600,000 Mar 10, 2023 Term Loan $2,100,000 Feb 1, 2022 $2,800,000 Dec 6, 2021 $6,000,000 Jul 15, 2021 Globe A Recycling and Manufacturing Company $12,500,000 Term Loan Nov 23, 2022 Globe A Steel Fabrication Company $16,700,000 Term Loan Aug 8, 2022 Globe An Energy Efficiency Company $2,000,000 Feb 18, 2022 $3,000,000 Jun 30, 2024 $15,000,000 Jul 31, 2024 Globe A Precision Tooling Manufacturer   $4,000,000 May 7, 2026 Term Loan Globe A Recycling Services Company $11,000,000 Feb 20, 2026 Term Loan $2,500,000 Mar 30, 2026 Globe A Residential Roofing Company $10,000,000 Dec 2, 2025 Term Loan Globe A Precast Concrete Fencing Company $19,000,000 Sep 8, 2025 Term Loan Globe A Pest Control Company $1,000,000 May 22, 2025 Follow-on Term Loan $27,000,000 Globe A Healthcare Trade School $3,000,000 May 19, 2025 Term Loan $12,000,000 Sep 17, 2024 Globe A Data Engineering and Business Intelligence Company $5,000,000 Jun 7, 2024 Debt and Equity Globe A Test and Measurement Company $22,500,000 Term Loan Nov 22, 2023 Globe A Solar Installation Company $15,000,000 Debt and Equity Jun 16, 2023 Globe A provider of body scanners in the security and surveillance market $4,000,000 Mar 6, 2023 $7,250,000 Nov 16, 2021 Globe A Flexible Packaging Contract Manufacturer $23,000,000 Term Loan and Equity In which Mizzen Invested $7,500,000 Sep 29, 2022 Globe A Hospitality Staffing Company $15,000,000 Term Loan Jun 6, 2022 Globe A leading IT Services Provider $4,080,000 Dec 1, 2021 $6,500,000 Sep 3, 2021 Globe An Iron Castings Manufacturer   $9,000,000 Apr 30, 2026 Term Loan Globe A Warehousing Services Provider $6,000,000 Feb 2, 2026 Term Loan and Equity Globe A Pest Control Company $9,000,000 Oct 14, 2025 Term Loan Globe A Pest Management Solutions Company $7,000,000 Sep 4, 2025 Term Loan Globe A Plumbing Platform $ 16,000,000 May 1, 2025 Term Loan Globe A HVAC Service Company $5,500,000 Sep 5, 2024 Term Loan $3,000,000 Dec 13, 2024 Globe A Commercial Landscaping Company $5,500,000 May 31, 2024 Debt and Equity $ 2,768,000 Dec 31, 2024 $4,500,000 Aug 29, 2025 Globe A Commercial Landscape Company $500,000 Oct 6, 2023 $5,500,000 Mar 2, 2023 Globe A Warehouse and Logistics Company $6,000,000 Term Loan Jun 13, 2023 Globe An Aerospace Components Manufacturer $5,000,000 Term Loan Dec 16, 2022 Globe A Government IT Services Contractor $3,600,000 Term Loan Sep 6, 2022 Globe A Specialty Chemical Manufacturer $7,500,000 Term Loan May 9, 2022 Globe A Multi‑State Landscaping Services Platform $13,000,000 Mar 19, 2026 Term Loan Globe An Aerospace Parts Manufacturer $5,000,000 Jan 26, 2026 Term Loan Globe A Closet Manufacturing Company $24,500,000 Sep 30, 2025 Term Loan Globe A Resort and Adventure Destination Company $10,000,000 Aug 15, 2025 Term Loan Globe A HVAC and Roofing Service Platform $12,500,000 Feb 11, 2025 Term Loan Globe Packaging Company $3,300,000 Jul 7, 2024 Debt and Equity $1,500,000 Jul 23, 2023 Globe Summer Camps and Commercial Real Estate Holding Company $5,000,000 May 2, 2024 Term Loan Globe Four Summer Camps $10,000,000 Term Loan Oct 6, 2023 Globe A Corrosion Prevention Company $4,200,000 Senior Secured Term Loan Mar 16, 2023 Globe A Biomass Power Generation Company $1,150,000 Dec 9, 2022 $1,000,000 Jun 3, 2022 $3,250,000 Oct 27, 2021 $12,750,000 Aug 2, 2021 Globe Vascular and Foot & Ankle Centers $1,000,000 Sep 2, 2022 $15,000,000 Dec 24, 2021 Globe A Solar Power Company $7,500,000 Apr 29, 2022 $8,000,000 Mar 30, 2021 Globe

Mizzen News Sort by Year Mizzen Fund Completes Financing to a Water Infrastructure Distributor  Search May 21, 2026 Mizzen Fund Completes Financing to a Precision Tooling Manufacturer   Search May 20, 2026 Mizzen Capital at the “Most Influential Women” Dinner Search May 15, 2026 Mizzen Fund Completes Financing to an Iron Castings Manufacturer   Search May 12, 2026 Marilyn Adler represented Mizzen Capital at the iGlobal Forum Independent Sponsor Dealmakers Meeting Search Apr 23, 2026 Elizabeth Karter and Victoria Shih attended the Small Business Investor Alliance Western Capital Summit 2026 Search Apr 21, 2026 Mizzen Capital Provides Follow on Term Loan to support the add on acquisition of a Plumbing Company Search Apr 17, 2026 Mizzen Fund Completes Financing for a Recycling Services Company Search Apr 14, 2026 Mizzen Capital Fund Completes Financing to A Multi‑State Landscaping Services Platform Search Apr 9, 2026 Mizzen Completes Financing of An HVAC and Plumbing Platform Search Apr 8, 2026 Mizzen Capital Shares Insights on Lower Middle Market Investing in “Deal Us In” Podcast Search Mar 24, 2026 Mizzen Fund Completes Financing to a Recycling Services Company Search Feb 25, 2026 Mizzen Announces Fund Realization of Electrical Testing Company Investment Search Feb 10, 2026 Mizzen Completes Financing on a Warehousing Services Provider Search Feb 5, 2026 Mizzen Fund Completes Financing to an Aerospace Parts Manufacturer Search Feb 2, 2026 Mizzen Completes Financing on a Plumbing Company Search Jan 19, 2026 Mizzen Provides ~$2.4 Million Incremental Term Loan to a Critical Infrastructure Service Provider Search Jan 12, 2026 Mizzen Management LLC Announces Key Promotions to expand Leadership Team Search Jan 6, 2026 Marilyn Adler Earns Recognition as One of the Most Influential Women in Mid-Market M&A for the 11ᵗʰ Consecutive Year Search Jan 5, 2026 Mizzen Capital Provides Follow-On Term Loan to Support the Acquisition of a Towing Company Search Mar 20, 2026 Mizzen Capital Completes Additional Financing for an Electrical Testing Company Search Dec 16, 2025 Mizzen Capital Completes Financing for a Residential Roofing Company Search Dec 12, 2025 Mizzen Capital Portfolio Company MZ Packaging Reaches Key Certification Milestones Search Nov 14, 2025 Mizzen Capital Supports Commercial Landscaping Company’s Add-on Acquisition Search Nov 10, 2025 Mizzen Capital Supports Closet Manufacturing Company Facility Acquisition and Refinancing Search Oct 16, 2025 Mizzen Capital Completes Financing for a Pest Control Company Search Oct 16, 2025 Mizzen Capital Completes Financing for a Precast Concrete Fencing Company Search Sep 9, 2025 Mizzen Capital Completes Financing on a Towing Company Search Sep 9, 2025 Mizzen Capital Supports Commercial Landscaping Company’s Add-on Acquisition Search Sep 8, 2025 Mizzen Capital Completes Financing for a Pest Management Solutions Company Search Sep 4, 2025 Mizzen Capital Completes Financing on a Resort and Adventure Destination Company Search Aug 25, 2025 Mizzen Capital Appoints Thomas Mckillop as Analyst: Investor Relations Search Jul 25, 2025 Mizzen Capital Completes Financing for a Landscape Management and Maintenance Company Search Jul 2, 2025 Mizzen Capital Welcomes Bryce Smith as Analyst Following Standout Internship Search Jul 1, 2025 Mizzen Capital represented at Katten's ‘PE Investing in Hidden Assets’ rooftop forum in NYC, June 12.” Search Jun 25, 2025 Mizzen Capital Provides Follow-On Term Loan to Support Growth of Pest Control Company Search Jun 4, 2025 Mizzen Capital Announces Final Closing of its Second SBIC-Licensed Fund Search May 29, 2025 Mizzen Capital Completes Delay Draw Term Loan Financing for a Trade School Search May 23, 2025 Mizzen Capital Acquires the Ryegate Biomass Plant Search May 20, 2025 Mizzen Capital Completes Financing for a Plumbing Platform Search May 6, 2025 Mizzen Capital Completes Financing for a HVAC and Roofing Service Platform Search Feb 27, 2025 Marilyn Adler Joins Kayo 2025 Panel on Private Debt Trends & M&A Outlook Search Feb 19, 2025 Mizzen Capital Completes Financing for A Pest Control Management Company Search Feb 13, 2025 Mizzen Welcomes Victoria Shih to Its Growing Deal Execution Team Search Feb 4, 2025 Mizzen Welcomes Meredith Sain to Its Growing Deal Execution Team Search Feb 4, 2025 Mizzen Capital's Liddy Karter Receives Esteemed UN World Logic Day “Women Making a Difference" Award at Logictry’s Inaugural Logic Circle UN SDG Event Search Jan 24, 2025 Mizzen Capital Completes Follow-On-Debt Financing for a Pest Control Company Search Jan 23, 2025 Mizzen Capital Completes Follow-On-Debt Financing for a HVAC Service Company Search Jan 17, 2025 Mizzen Capital proud to have Marilyn Adler selected as one of the top women in M&A. Search Jan 9, 2025 Mizzen Capital Announces Promotions of Gardner Standart to Principal and Philip Hallwood to Associate Search Dec 24, 2024

Managing Director VCARD VCARD Annie Li Managing Director Ms. Li is a founder and Managing Director at Mizzen Capital. Prior to launching Mizzen Capital, Ms. Li worked with Ms. Adler at Medley SBIC for 6 years responsible for managing various aspects of Medley SBIC Fund, including deal screening, asset management, and reporting to the SBA. Prior to that, she worked with Ms. Adler at Sunrise Equity Partners, a private equity SBIC fund, responsible for investment activities and reporting to the limited partners and the SBA. Before her 14 years of SBIC career, Ms. Li worked for 3 years at Rodman & Renshaw, a boutique investment bank in New York. Ms. Li earned an MBA from The Columbia Business School and a BA from China Agricultural University.

Controller VCARD VCARD Kevin Wolpert Controller Mr. Wolpert currently works as Controller of Mizzen Capital. Prior to Mizzen Capital, Mr. Wolpert worked briefly at SS&C Inc. serving as Assistant Director. Prior to SS&C he worked at PEF Services, LLC (2013-2020) where he worked on multiple SBIC clients as well as other private equity funds. He is highly experienced with the rules and regulations surrounding the SBA program. He worked with Ms. Adler and Ms. Li on the administration of their previous SBIC funds. Mr. Wolpert received a B.S. in Business Administration (Accounting) from Millersville University of Pennsylvania in 2007.

Managing Partner VCARD VCARD Marilyn Adler Managing Partner Ms. Adler is a founder and Managing Partner at Mizzen Capital. Prior to launching Mizzen Capital, Ms. Adler held senior management roles with SBIC investment funds including Medley SBIC LP, Sunrise Equity Partners LP and Hudson Venture Partners LP. Prior to that, she worked at Teachers Insurance and Annuity Association in the fixed income group and at Donaldson, Lufkin & Jenrette in the investment banking division. Ms. Adler is also on the investment committee of Yeshiva University and is a founder of Exponent Women, a woman’s networking group. M&A magazine has named Ms. Adler one of the Most Influential Women in Mid-Market M&A for 11 consecutive years (2016–2026). She was also named ACG’s Women of Leadership awardee for 2018. Ms. Adler is a board member of UJA’s private equity division, banking & finance division and women of wall street division. Previously, Ms. Adler was a Board Member of the SBIA Board of Governors (2014 to 2019) and chair of its BDC committee (2015 to 2017). Ms. Adler earned an MBA from The Wharton School of the University of Pennsylvania and a BS with distinction from Cornell University.

Managing Partner VCARD VCARD Elizabeth (“Liddy”) Karter Managing Partner Ms. Karter is a founder and Managing Partner at Mizzen Capital. Prior to launching Mizzen Capital, Ms. Karter held senior management roles with Enhanced Capital in a direct lending fund. Prior to that, she managed several Angel Groups and managed an active consulting practice for small business growth. She served as CFO at Netkey, Inc., and CEO Resource Recovery Systems Inc.. She began her career at Morgan Stanley and Co. Inc. in the investment banking division. Ms. Karter earned an MBA from The Yale School of Management and a BA from Columbia University.

Analyst VCARD VCARD Thomas McKillop Analyst Thomas McKillop is an Analyst at Mizzen Capital. He previously interned with Mizzen and brings experience across investment banking, project finance, and business development through roles at Ardour Capital, Climate Commodities, and RAIN Merchant Bank. His prior work included supporting M&A and project finance modeling for energy and climate technology companies, developing financial presentations, and conducting research on critical mineral value chains. Thomas holds an MA (Honours) in Economics from the University of Edinburgh and previously studied Mandarin in Taiwan at Tamkang university

Principal VCARD VCARD Victoria Shih Principal Ms. Shih is a Principal focused on underwriting and deal execution at Mizzen Capital. Previously, she worked as a Vice President on the capital markets and portfolio management team at Seabury Capital. Her prior experience includes private credit, structured finance, and asset-based lending at White Oak and Prudential Private Capital. She holds a BS in Business Administration and a BA in Public Health from the Haas School of Business at UC Berkeley.

Senior Analyst VCARD VCARD Avi Weinberg Senior Analyst Avi Weinberg is a Senior Analyst at Mizzen Capital. He previously interned at J.C. Flowers & Co. LLC, developing financial models and conducting due diligence. Avi is pursuing a BA in Economics from Columbia University.

Associate VCARD VCARD Philip Hallwood Associate Mr. Hallwood works as an Associate focused on underwriting and deal execution. He earned his Bachelor of Arts degree in Economics and minor in Mathematics from the University of Connecticut. He accumulated extensive research, model development and data analysis experience during his internship with Morgan Stanley and the University of Connecticut. During his time at the University of Connecticut, he co-founded a chapter for European Horizons and was a gold medalist for the school’s rowing team.

Associate VCARD VCARD Cate Rozelle Associate Ms. Rozelle joined Mizzen as an Associate focused on underwriting and deal execution. Previously, she worked at Citigroup as an Investment Banking Senior Analyst in the Consumer & Retail Group where she leveraged a comprehensive range of valuation methodologies and performed in-depth company, industry, and market analyses to support client transactions and strategic decisions within the consumer and retail sectors. Ms. Rozelle earned her BA from Dartmouth College, majoring in Government and minoring in English. She participated in the Tuck School of Business Bridge Program as well as the TuckLAB program.