Great question, Rocco! I have met two investors on this platform, who are institutional, which means, if the right deal was presented, in my opinion, there would exist no limit in size. Institutional investors want to write bigger checks. Some of the limiting factors of breaching into larger deal sizes and working with institutional players may include: (1) how much of deal costs can you, the sponsor, afford if the deal goes dead, (2) are you, the sponsor, the best person for the deal. In the world of sharp elbows, institutional players could take a deal and circumvent you, even when a Non-Circumvent Agreement is in place, sticking you with all the soft and hard costs.

After you answer the aforementioned questions, you can reverse engineer the deal size. For example, deal cost as a percentage of the deal size. If you would like to discuss more, please DM me. Happy M&A!