Exit Preparation for Aerospace & Defense Independent Sponsors
Securities and M&A counsel for independent sponsors preparing aerospace and defense transactions, from LOI to close to the capital markets that open up afterward.
The economics on a aerospace and defense platform deal usually hinge on a handful of structural decisions. Exit Preparation is one of them.
The typical aerospace and defense platform sits at $15M to $200M EV with EBITDA in the $3M to $30M range. The thesis runs on tier-two or tier-three supplier consolidation with certifications as moat. Foreign LP capital can trigger CFIUS review on the cleanest of deals. Map the cap table early.
How Exit Preparation actually gets structured.
Clean the cap table 18 months before the planned exit window.
Refresh the IP, employment, and customer contract files for diligence readiness.
Build a quality-of-earnings ready financial package well before bankers come in.
Coordinate sponsor exit economics with the LP waterfall and any rolled-equity holders.
In aerospace and defense, layer in ITAR / EAR registration transferred or refiled before close as part of the Exit Preparation workstream.
Starting exit prep when the banker calls. By then, every fix costs price.
"Exit prep is what separates a 6x outcome from an 8x outcome. The work starts before the banker."Jason Powell · Exit Preparation
The deal is one thing. The capital that opens up after close is another.
Capital after close is where the IRR actually gets made. The right introductions at month nine through month thirty are where this practice works as hard as it does at the LOI.
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Exit Preparation for Aerospace & Defense, on independent sponsor terms.
Independent sponsor counsel that already speaks fluent deal-by-deal economics, structures clean LPAs, and travels with capital markets relationships for what comes after close.