Insights and perspectives
Insights features commentary from KitsWest Capital on business valuation, business brokerage, and business financing matters affecting owner-managed and privately held businesses across BC and Alberta.
Our articles focus on practical issues relevant to founders, shareholders, and management teams evaluating business sales, acquisitions, financing decisions, recapitalizations, ownership transitions, and broader strategic alternatives.
Based in Vancouver, we publish content intended to help small to mid-market owner-managed businesses in BC and Alberta better understand the issues that often arise before, during, and after important financial and strategic decisions.
Topics we cover
Our Insights content is focused on practical issues across three core advisory areas:
Business valuation
Articles on what drives value, how businesses are assessed, and how valuation fits into succession planning, ownership discussions, financing matters, and transaction decisions.
Business sales & acquisitions
Commentary on preparing a business for sale, evaluating offers, acquisition strategy, transaction readiness, and broader ownership transition matters.
Business financing
Insights on debt structures, refinancing initiatives, acquisition financing, recapitalizations, and the broader financing decisions that affect flexibility and long-term value.
Business Line of Credit vs Term Debt
When to use an operating line and when to use term debt, how each is priced and covenanted, and the mistake that quietly drains working capital.
Asset-Based Lending for BC Businesses
Asset-based lending sizes a facility against what you own, not what you earn. Advance rates, what counts as eligible, and which BC businesses it suits.
Corporate Debt Restructuring in Canada
Most debt restructuring in Canada is private and consensual. What triggers it, the options in order of severity, and why lenders reward early disclosure.
Mezzanine Financing Explained
Mezzanine sits between senior debt and equity. What it costs, where it fits in the capital stack, and when it beats selling shares to fund a transaction.
Private Credit in Canada: What Owner-Managed Businesses Should Know
Non-bank lending has become a real third option for Canadian businesses. What private credit costs, where it fits in the capital stack, and when it makes sense.
Loan Covenants Explained: What Business Owners Should Negotiate
Loan covenants determine how much operating flexibility a business has during the term of a loan. Learn the most common covenants and what to negotiate.
Vendor Take-Back Financing: How Seller Notes Work in Canadian Deals
A vendor take-back (VTB) is a seller-financed note used in many Canadian private company sales. Learn how VTBs are structured, secured, and negotiated.
What Do Lenders Look for in a Mid-Market Business?
Lenders do not assess businesses based on revenue alone. They evaluate cash flow, leverage, management capability, reporting quality, collateral, and the company’s ability to service debt reliably.
Should I Sell My Business or Raise Capital
For many business owners, the real question is not whether they can complete a transaction, but whether they should pursue a sale or raise capital. The right answer depends on objectives, growth, risk tolerance, and timing.
When to Consider a Recapitalization Instead of a Full Sale
For some business owners, a full sale is not the only path to liquidity. A recapitalization can provide capital, reduce risk, and preserve future upside while allowing owners to retain involvement.
How to Finance a Business Acquisition in Canada: Loans, Lenders and What to Expect
A practical guide to financing a business acquisition in Canada. Covers BDC, chartered banks, vendor take-back financing, private lenders, and the Canada Small Business Financing Program, with a realistic deal structure example.
Senior Debt vs Subordinated Debt for Mid-Market Businesses
Senior debt and subordinated debt serve different purposes in a company’s capital structure. Understanding the difference can help business owners make better financing decisions.
Who our insights are for
Our articles are written for owner-managed and privately held businesses, founders and shareholders, management teams, and the accountants and legal advisors who support them.
The objective is not to provide generic market commentary. It is to deliver decision-oriented content tied to the situations that small to mid-market private companies in BC and Alberta commonly face.
Related advisory services
The issues discussed in our Insights section often connect directly to our advisory work.
Business valuation
Independent valuation advice for transaction, planning, financing, shareholder, and compliance-related purposes.
Business sales & acquisitions
Advisory on business sales, acquisitions, ownership transitions, unsolicited offers, and broader strategic transaction matters.
Explore Business Sales & Acquisitions
Debt & capital advisory
Advice on acquisition financing, refinancing initiatives, recapitalizations, growth capital, and broader business financing matters.
Mike Busch, CPA, CBV · Managing Partner
Mike brings nearly a decade of experience across investment banking, corporate finance, valuations, and restructuring. Earlier in his career, Mike advised businesses across Canada and the United States on transactions ranging from business sales and acquisitions to capital raises, refinancings, and corporate restructurings at Big Four firms and mid-market investment banks. Mike is a member of CPABC and CBV Institute.
Discuss a valuation, financing, or M&A matter
If you are evaluating a business sale, acquisition, refinancing initiative, recapitalization, financing process, unsolicited offer, or valuation assignment, we welcome a confidential discussion.
KitsWest Capital
595 Howe Street, Suite 306
Vancouver, BC V6C 2T5
Advising owner-managed and privately held businesses across British Columbia and Alberta.
Our associations
Our principals are members of the Chartered Professional Accountants of British Columbia (CPABC) and CBV Institute. KitsWest Capital is a member of the Richmond Chamber of Commerce, the Abbotsford Chamber of Commerce, and the Greater Vancouver Board of Trade.
