Capital raise · Precision Manufacturing

Co-Investment Rights for Precision Manufacturing Independent Sponsors

Negotiating Co-Investment Rights on precision manufacturing deals, with the structure protection and capital connectivity an independent sponsor actually needs.

EV range $10M to $150M EV EBITDA $2.5M to $25M Audience Independent Sponsor
The deal context

Every precision manufacturing acquisition has its own gravity. Co-Investment Rights is the workstream where independent sponsor counsel earns the seat.

The typical precision manufacturing platform sits at $10M to $150M EV with EBITDA in the $2.5M to $25M range. The thesis runs on platform plus tuck-in machine shops or aerospace-qualified shops. Most precision manufacturing sellers will not sign an LOI without a known capital partner already named.

The moves

How Co-Investment Rights actually gets structured.

  1. Define co-invest rights pro-rata to the LP's deal commitment.

  2. Build a 30-day decision window so the deal does not stall.

  3. Limit co-invest fees and carry, if any, to reflect the relationship value.

  4. Document the right in the LPA, not in a side letter.

  5. In precision manufacturing, layer in AS9100 succession plan as a closing condition as part of the Co-Investment Rights workstream.

The common mistake

Granting unlimited co-invest. The next LP finds out and your firm economics suffer.

Jason's take
"Co-investment is a privilege you give to the LPs you want to keep. Define it accordingly."
Jason Powell · Co-Investment Rights
Capital after close

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.

MONTH 18
Senior refi
MONTH 24
Dividend recap
MONTH 36
Growth equity
YEAR 4–5
Strategic exit
WORK WITH JASON

Bring the precision manufacturing deal. Get Co-Investment Rights 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.