Investment Criteria

Instruments
Senior loans
Senior convertible loans
Use of proceeds
Growth financing
Acquisition financing
General refinancing
Balance sheet restructuring
Buyout of minority shareholders
Loan Structure
Term 3 to 7 years
Ticket size above €5 million
Interest can be cash or a combination of cash + PIK
Bullet or amortizing
Investment Requirements
Minimum 5 years of operations and 2 years of audited financials
Strong and defensible market positioning
EBITDA positive (above €2 million)
Relevant and identifiable equity value
Experienced management team aligned with the company
Based in Spain or Portugal
All sectors except for financial institutions and real estate development

Differentials

Flexibility and creativity
We pride ourselves for coming up with financing solutions even in complex situations.
Sense of ownership
Trea and TDL investment teams are two key investors in all TDL vehicles, providing a sense of ownership and a total alignment of interest with our investors.
Proximity and responsiveness
Trea has presence in Barcelona and Madrid with a very experienced team on the ground. We provide companies with a clear and accessible interlocutor, avoiding management teams to deal with various layers of decision makers.
Agility
We are an agile organization capable of analyzing a situation, structuring and closing a transaction quickly, without being subject to burdensome approval processes or bureaucracy.
Active investment
TDL is not a traditional passive lender. We focus on the financial stability and value creation of the companies where we invest, providing advice and strategic support to management teams.