Insurance Brokerage Capital Markets Post-Close: An Independent Sponsor's Counsel
Introducing Capital Markets Post-Close on insurance brokerage deals, with the structure protection and capital connectivity an independent sponsor actually needs.
Every insurance brokerage acquisition has its own gravity. Capital Markets Post-Close is the workstream where independent sponsor counsel earns the seat.
The typical insurance brokerage platform sits at $10M to $150M EV with EBITDA in the $3M to $25M range. The thesis runs on regional retail agency roll-ups. Producer non-competes are unenforceable in too many states to ignore. Plan retention, not litigation.
How Capital Markets Post-Close actually gets structured.
Refinance senior debt at the 12 to 18 month mark when EBITDA growth supports it.
Plan a dividend recap or partial liquidity event at the right margin and leverage profile.
Source growth equity from capital partners with deeper checks than the original LP base.
Build a relationship with strategic acquirers years before the exit window opens.
In insurance brokerage, layer in E&O tail insurance priced and bound as part of the Capital Markets Post-Close workstream.
Waiting until the exit to think about capital markets. The relationships should be working months before you need them.
"The right introduction in month nine can be worth more than the original equity round. The call list is short and known."Jason Powell · Capital Markets Post-Close
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.
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Capital Markets Post-Close for Home Services
regional roll-ups of HVAC, plumbing, and electrical operators
An LOI on the desk, a insurance brokerage target, and a Capital Markets Post-Close question worth a real conversation.
Twenty minutes of practitioner-grade input from a securities attorney whose first move is to read the deal, not the engagement letter.