Linking is probably not the problem, and would be hard to distribute anyway. If you can get the libraries accepted by gcc, that might work for the compiling. And then you could link the resulting files on your own computer, if the object format is accepted by your embedded compiler.
Alternatively, you could just split the makefile into multiple parts, if you're going to build everything anyway. If there are still interlinked dependencies, it might be best to lift them and put them in a single file you compile first and distribute with the rest. That would be good practice in any case, if possible.
Edit: you might need to cascade multiple make files for each target to handle the normal dependencies.