Advisory

We restructure the way owners do — because we are one.

The promise

Since 2002: M&A through the whole life of an acquisition, and hands-on restructurings and turnarounds.

MIG did not start as a financier. It started in technology; then investing in technology; then buying, merging and restructuring technology companies. The practice has a name and a date: Exertus Partners, founded in 2002 by Manuel Mallebrera, a global boutique that partnered with technology, telecom and media firms on mergers and acquisitions, market expansion, joint ventures, restructurings, turnarounds and trade sales — around 125 clients across the Americas, Europe and Asia, on transactions typically between USD 5 million and USD 100 million, with experience on deals measured in billions. Its founding principle was that a transaction is not finished when it closes: unlike an investment bank, the firm saw every initiative through its whole life-cycle to realise the value that was intended, and it took a gain-sharing equity stake in its clients so that it won only when they did.

That method is MIG’s method.

It is how MIG runs its own portfolio — every company MIG holds has been through MIG’s own acquisition process, and more than one has been through its restructuring process — and it is offered to third parties when they need it.

What we do.

Two things, hands-on.

M&A through the whole life of an acquisition.

Origination and target screening; due diligence — financial, technical, legal — using the same team that underwrites our bonds; structuring and financing, including through the MIGCorp Bond™ where the asset supports it; closing; and the part most advisers leave at the door, post-acquisition management. MIG has run the companies it bought. That is the difference between advising on a deal and knowing what happens on day ninety-one.

Restructuring and turnaround.

Balance-sheet restructuring — renegotiating debt, bringing in new capital, re-tranching; operational restructuring — the plan, the management, the cost base; creditor negotiation; and, where the right answer is a sale, the trade sale itself, run to the highest achievable value. MIG’s distressed-portfolio work in North America, buying loans and assets from banks and working them out, is this practice applied with our own money.

How we work.

Hands-on is not a slogan — the original firm’s own phrase for it was “sleeves up”. MIG puts its people inside the company for the duration: in the finance function, in the negotiation with lenders, in the operating plan. We take board seats where it helps. We align with the outcome, often through equity, and we are comfortable being the party that makes the hard decision.

Who it is for.

Owners of mid-market companies in MIG’s regions and verticals — agro, energy, infrastructure, real estate, mining — who are buying, selling, merging or in difficulty with their lenders; sponsors of projects MIG is financing whose corporate structure needs work before the project can be financed; and lenders who would rather see an asset worked out by an operator than liquidated.