Insurance Brokerage Disclosure Schedules: An Independent Sponsor's Counsel
Preparing Disclosure Schedules on insurance brokerage deals, with the structure protection and capital connectivity an independent sponsor actually needs.
Every insurance brokerage acquisition has its own gravity. Disclosure Schedules 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 Disclosure Schedules actually gets structured.
Coordinate disclosure schedule preparation with the seller's diligence file, not against it.
Specifically disclose against specific reps, with cross-reference indexing.
Use the schedules to surface known issues, not to hide them.
Update schedules at signing and again at closing where allowed.
In insurance brokerage, layer in E&O tail insurance priced and bound as part of the Disclosure Schedules workstream.
Treating disclosure as a dump. The schedules carry the same legal weight as the reps; they need the same precision.
"Disclosure schedules are the most underrated document in M&A. They protect both sides when done right."Jason Powell · Disclosure Schedules
The deal is one thing. The capital that opens up after close is another.
Refinancing, recaps, growth rounds, and the right strategic conversation eighteen months early are all downstream of relationships that take years to build and minutes to use.
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Disclosure Schedules for Healthcare Services
roll-up of physician practices and ancillary service lines
Disclosure Schedules for Home Services
regional roll-ups of HVAC, plumbing, and electrical operators
Disclosure Schedules for Insurance Brokerage, 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.