Post-close · Specialty Distribution

Specialty Distribution Deals: Capital Markets Post-Close Done Right

Introducing Capital Markets Post-Close on specialty distribution deals, with the structure protection and capital connectivity an independent sponsor actually needs.

EV range $10M to $100M EV EBITDA $2.5M to $18M Audience Independent Sponsor
The deal context

Capital Markets Post-Close on specialty distribution deals is one of those workstreams that looks routine on a checklist and decides outcomes in practice.

The typical specialty distribution platform sits at $10M to $100M EV with EBITDA in the $2.5M to $18M range. The thesis runs on vertical buy-up of niche product distributors. Most distribution multiples are wrong by half a turn until the rebate accounting gets normalized.

The moves

How Capital Markets Post-Close actually gets structured.

  1. Refinance senior debt at the 12 to 18 month mark when EBITDA growth supports it.

  2. Plan a dividend recap or partial liquidity event at the right margin and leverage profile.

  3. Source growth equity from capital partners with deeper checks than the original LP base.

  4. Build a relationship with strategic acquirers years before the exit window opens.

  5. In specialty distribution, layer in supplier reaffirmation letters before LOI signs as part of the Capital Markets Post-Close workstream.

The common mistake

Waiting until the exit to think about capital markets. The relationships should be working months before you need them.

Jason's take
"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
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 specialty distribution deal. Get Capital Markets Post-Close 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.