Close · Specialty Chemicals

Representation & Warranty Insurance Counsel for Specialty Chemicals Acquisitions

Structuring Representation & Warranty Insurance on specialty chemicals deals, with the structure protection and capital connectivity an independent sponsor actually needs.

EV range $15M to $200M EV EBITDA $3M to $28M Audience Buy-side / Sponsor
The deal context

An independent sponsor closing specialty chemicals transactions in the $15M to $200M EV range has a defined set of moves at the Representation & Warranty Insurance stage. Most of them are not in a generic M&A textbook.

The typical specialty chemicals platform sits at $15M to $200M EV with EBITDA in the $3M to $28M range. The thesis runs on niche formulator or contract manufacturing buy-up. The IP lives in the formulator's head as often as in the company. Structure for that risk explicitly.

The moves

How Representation & Warranty Insurance actually gets structured.

  1. Get to non-binding indication within two weeks of LOI sign, with carrier diligence to follow.

  2. Negotiate retention to 0.5 percent of EV, dropping to 0.25 percent after 12 months.

  3. Confirm policy follows form on the purchase agreement, not the other way around.

  4. Carve out tax indemnities and known liabilities, priced separately if needed.

  5. In specialty chemicals, layer in chemical inventory transfer filed as part of the Representation & Warranty Insurance workstream.

The common mistake

Treating R&W as a commodity. Carrier appetite varies sharply by industry and deal size.

Jason's take
"R&W is no longer optional on most independent sponsor deals over $20M. Price it into the LOI."
Jason Powell · Representation & Warranty Insurance
Capital after close

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.

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

Bring the specialty chemicals deal. Get Representation & Warranty Insurance 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.