We lend to companies.
Then help make them better.
Transformational term debt for Canada’s lower-middle market. $5-25M senior secured loans backed by an integrated M&A, value creation and AI ecosystem. Swift, creative capital for the situations traditional lenders can’t navigate.
Lower-middle market companies deserve better options.
Companies in the lower-middle market with established management teams, real revenue, and clear growth plans often find themselves in a financing gap. Chartered banks have tightened lending criteria, resulting in lower leverage multiples and heavier security requirements. Equity can be expensive given valuation dynamics and the dilution that comes with it.
At the same time, large private debt funds are writing $50M+ cheques and can’t deploy at this scale economically. The result: well-run businesses with strong fundamentals and clear capital needs are underserved.
FirePower’s Private Debt offering fills that gap. We provide swift, flexible capital for the situations that need a partner who understands the realities of running and growing a business. Our borrowers range from founder-led businesses to PE-backed management teams. What they share is a real business, a clear plan, and a need for flexible capital.
We fund positive EBITDA, negative EBITDA, and the situations in between.
Sponsor-backed or not. We tailor structures to the opportunity across a broad mandate, from cash-flowing businesses looking to leverage earnings, to companies with proven recurring revenue models where profitability is within reach, to structured situations that don’t fit neatly into either bucket.
Cash-flowing businesses
We work with businesses generating $2M+ annual EBITDA that want to leverage earnings for growth capital. Our tailored lending solutions support both the current and future profitability of the business, ensuring a forward-looking perspective that aligns with your strategic objectives.
Our structures support acquisitions, management buyouts, shareholder refinancing, consolidation of capitalization tables, and multi-location rollouts. We act with urgency, with the ability to close meaningfully faster than traditional lenders.
Recurring-revenue businesses
We provide funding to companies generating $500K+ monthly recurring revenue that need capital before reaching positive cashflow. When cash flow is negative, recurring or reoccurring revenue is what supports the financing.
Companies don’t need to be sponsor-backed. Capital is often used to fund cash burn while the business executes a growth strategy, bridges between rounds, or consolidates the cap table. Many borrowers are bootstrapped and don’t fit with chartered banks, or simply prefer less dilution and opt for private debt to support growth alongside a smaller equity raise.
Bespoke structured finance
When the structure matters more than the income statement. Some opportunities don’t map to a clean EBITDA story. We underwrite against enterprise value, portfolio NAV, and contracted cash-flow streams, always with a clear path to repayment, to deliver capital where ordinary credit can’t go.
Our M&A and operating experience lets us get comfortable with complexity that traditional lenders won’t touch, structuring around the specific realities of each situation rather than a rigid template.
The credit box.
Every facility is tailored to the opportunity. These are our typical parameters.
The kind of businesses we back.
Industry agnostic with a few exceptions, here’s what we look for.
Skin in the game
Operators must have meaningful ownership, as founders or as a sponsor group.
Headquartered in North America
Canadian and US-headquartered businesses only.
Professional operations
Established operations, a high-quality accounting and finance team, strong management group.
Industry agnostic
We back almost any sector, except real estate, resource extraction, and pharmaceuticals.
Differentiated business model
A demonstrable economic moat, something that makes you hard to displace.
Thoughtful growth plan
A clearly defined use of funds and high-quality information to underwrite against.
How our capital is used.
Growth
Talent, new platforms or product rollouts, working capital, capital that accelerates your trajectory without forcing dilution.
Case study: CheckSammyCashflow loan
Leverage earnings to fund management buyouts, shotgun clauses, shareholder refinancing, and cap-table restructuring.
Case study: CluepAcquisition financing
Supporting roll-up strategies and competitive consolidation plays as an independent sponsor or operating company.
Case study: AIIMSpecial situations
Lending to lenders, bespoke structured finance, NAV loans, DIP lending, and restructurings, where ordinary credit doesn't fit.
Case study: LimelightWhere we’ve put capital to work.
View select dealsIT Hardware Company
Senior secured growth facility to an IT hardware company (details confidential).
LMS Platform
Growth credit facility to a learning management software platform (details confidential).
Business Services Company
Senior secured growth facility to a business services company (details confidential).
Smile Digital Health
Growth financing for a Canadian healthcare data platform scaling through North America.
Noetic Fund
Structured credit to a specialty fund manager, a 'lending to lenders' situation.
Limelight Properties
A portfolio-level NAV loan, not property-by-property, letting the operator use built-up equity across properties simultaneously.
We don’t just lend. We run the whole ecosystem around you.
Our borrowers get more than capital. They plug into a 70+ person ecosystem spanning M&A advisory, value creation consulting, and AI-native operational support. When our borrowers get stronger, so does the partnership.
FirePower Capital
110+ deals closed. Sell-side, buy-side, and strategic transactions feed proprietary deal flow into the lending book.
VMX
Enterprise value consulting deployed pre- and post-transaction, customer profitability, forecasting, and operational analytics.
FPDev.AI
AI tooling deployed into borrower operations to automate workflows and improve unit economics during the loan life.
Every good deal starts with a conversation.
Tell us about your business and what you’re trying to get done. If it fits, we’ll move fast.