Cybersecurity Services Post-Close Governance: An Independent Sponsor's Counsel
When the deal is cybersecurity services and the question is Post-Close Governance, the structure decisions in the first 30 days outlast the next five years. This is where Jason Powell works.
Every cybersecurity services acquisition has its own gravity. Post-Close Governance is the workstream where independent sponsor counsel earns the seat.
The typical cybersecurity services platform sits at $10M to $130M EV with EBITDA in the $2.5M to $22M range. The thesis runs on MSSP or specialty consulting platform. Cleared workforce is the moat. Cleared workforce can also be the deal-killer in CFIUS reviews.
How Post-Close Governance actually gets structured.
Build a board with sponsor majority, one LP-elected seat, and one independent.
Define LP protective provisions narrowly, focused on dilution, exit, and related-party transactions.
Set information rights at monthly financial and quarterly board-level updates.
Plan the annual budget approval cadence so the sponsor can run the business.
In cybersecurity services, layer in FSO succession plan in place as part of the Post-Close Governance workstream.
Negotiating governance like a fund LPA. independent sponsor governance has to be lighter and faster.
"Governance design decides whether the operator runs the company or files reports."Jason Powell · Post-Close Governance
The deal is one thing. The capital that opens up after close is another.
Most independent sponsors solve the closing capital and then run into the post-close capital problem alone. The capital markets relationships that matter at month 18 are part of this practice.
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Bring the cybersecurity services deal. Get Post-Close Governance done right.
Direct counsel from a securities and M&A attorney with billions in structured transactions, the independent-sponsor-native playbook, and the capital markets network that opens up post-close.