Industrial Services Capital Partner LPA: An Independent Sponsor's Counsel
Independent sponsor counsel for industrial services, focused on Capital Partner LPA and the deal mechanics that protect sponsor economics and LP alignment.
The economics on a industrial services platform deal usually hinge on a handful of structural decisions. Capital Partner LPA is one of them.
The typical industrial services platform sits at $10M to $130M EV with EBITDA in the $3M to $22M range. The thesis runs on regional consolidation of plant maintenance, specialty contracting, or rentals. An EMR over 1.0 will cost you a half-turn at close unless you fix the story upfront.
How Capital Partner LPA actually gets structured.
Anchor on a 20 percent carry above an 8 percent preferred return, 50/50 catch-up.
Build a one-vote, one-LP majority for any waterfall change.
Define key-person and removal-for-cause provisions narrowly.
Make distributions quarterly, with an annual true-up against the waterfall.
In industrial services, layer in MSA renewal calendar mapped pre-LOI as part of the Capital Partner LPA workstream.
Reusing a fund LPA template for a deal-by-deal structure. The economics, governance, and waterfall need to be different.
"The LPA outlives the deal. Draft it like the next ten deals will be governed by the same paper."Jason Powell · Capital Partner LPA
The deal is one thing. The capital that opens up after close is another.
After close, the call list for refinancing, recapitalization, and growth equity gets short and known. Jason carries that list.
Related deal pages.
LOI Negotiation for Industrial Services
The 4 to 8 page agreement that frames the deal economics, exclusivity, and diligence period.
Independent Sponsor Economics for Industrial Services
The package of deal-by-deal carry, management fees, and transaction fees that compensates the independent spo…
Management Fee Structuring for Industrial Services
The annual fee paid by the deal entity to the independent sponsor for ongoing oversight, board service, and p…
Equity Rollover for Industrial Services
The portion of seller proceeds reinvested into the post-close entity, aligning seller with buyer.
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Capital Partner LPA for Industrial Services, 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.