Family Business Audiocast Episode 54: John Koeppel on the Evolution of Family Business Enterprise Transactions Through Independent Sponsors
Nov 7, 2025
36:39
John Koeppel, partner at Lippes Mathias LLP and leader of their private equity and independent sponsor practice, joins host R. Adam Smith to explore how independent sponsors are transforming direct deal making. With over 250 transactions closed, Koeppel shares insights on why family investment office structures are increasingly backing fundless sponsors, the strategic advantages of flexible deal structuring, and the critical dynamics between sellers, sponsors, and capital partners. The conversation covers QSBS tax benefits, succession planning for family enterprise transitions, and the essential mentorship role legal advisors play in navigating complex lower middle market transactions.
00:00 - Welcome and introductions
02:17 - John's practice and client base
04:41 - Flexibility in deal structuring
06:09 - Direct deal making expansion
08:54 - Operating expertise and value
10:20 - Deal sourcing strategies
12:53 - Structure and economics
14:40 - GP commitment expectations
16:56 - Post-closing governance
18:59 - Deal timelines
20:42 - Seller rollover equity
22:29 - Exit considerations
24:35 - Common challenges
27:18 - Industry activity levels
29:27 - Seller relationship importance
31:00 - Three-party dynamics
33:22 - Mentorship and persistence
35:35 - Final thoughts and closing
02:17 - John's practice and client base
04:41 - Flexibility in deal structuring
06:09 - Direct deal making expansion
08:54 - Operating expertise and value
10:20 - Deal sourcing strategies
12:53 - Structure and economics
14:40 - GP commitment expectations
16:56 - Post-closing governance
18:59 - Deal timelines
20:42 - Seller rollover equity
22:29 - Exit considerations
24:35 - Common challenges
27:18 - Industry activity levels
29:27 - Seller relationship importance
31:00 - Three-party dynamics
33:22 - Mentorship and persistence
35:35 - Final thoughts and closing