Mergers & Acquisitions
Transactions that create value, not just headlines.
Whether you are buying, selling, or combining, we bring rigorous valuation, structured negotiation, and the discipline to walk away when a deal no longer makes sense.
Overview
What this service involves
A merger combines two companies into one; an acquisition is the purchase of one company, or part of it, by another. Both are among the most powerful tools for growth, and among the easiest ways to destroy value. Research consistently shows that a majority of deals fail to deliver the returns promised at announcement, usually because of overpayment, poor integration, or a strategy that never fitted.
We advise on the full spectrum: sell-side mandates where we run a competitive auction to maximise price and certainty; buy-side mandates where we identify, value, and negotiate for targets; mergers of equals; carve-outs and divestitures; and management buyouts.
Every engagement starts with a simple question: what does this transaction need to achieve? From there we build the valuation, the structure, and the negotiation strategy that gets you there, and we stay through closing and integration planning.
- Months for a typical sell-side process
- 4-9
- Valuation methods triangulated on every deal
- 3
- Diligence questions we pressure-test
- 100+
Our process
How an engagement unfolds
Each stage has clear deliverables and decision points, so you always know where the transaction stands.
- 01
Strategy and preparation
Weeks 1-6
We define objectives, map the buyer or target universe, and prepare the company and its data for scrutiny.
- Strategic rationale and success criteria agreed with the board
- Long list of buyers or targets, screened for fit and capacity to pay
- Vendor due diligence and quality-of-earnings preparation
- Information memorandum and financial model
- 02
Valuation
Weeks 4-8
We triangulate value from multiple angles so you know the walk-away price before the first conversation.
- Discounted cash flow under base, upside, and downside cases
- Trading comparables and precedent transaction multiples
- Synergy quantification: what each buyer can afford to pay
- Fairness opinion support for boards where required
- 03
Marketing or approach
Weeks 8-16
On the sell side we run a controlled competitive process; on the buy side we make a discreet, well-prepared approach.
- Confidentiality agreements and staged information release
- First-round indicative offers and shortlist selection
- Management presentations and site visits
- Data room management and question tracking
- 04
Negotiation and structuring
Weeks 16-24
Price is only one term. Structure often decides who really wins.
- Cash, stock, or mixed consideration and earn-out design
- Warranties, indemnities, and warranty and indemnity insurance
- Working capital, net debt, and locked-box mechanisms
- Final bids, exclusivity, and purchase agreement negotiation
- 05
Closing and integration
Signing to day 100
Value is captured after the deal closes. We help make sure it is.
- Regulatory and antitrust clearances
- Financing, conditions precedent, and completion mechanics
- Day-one readiness and 100-day integration plan
- Synergy tracking against the original investment case
Capabilities
Where we add value
Sell-side advisory
Competitive auctions and targeted sales designed to maximise price and deal certainty.
Buy-side advisory
Target screening, valuation, and negotiation that protect you from overpaying.
Mergers of equals
Governance, exchange ratios, and leadership structures that make the combination work.
Carve-outs and divestitures
Separating a business cleanly, including transitional service agreements.
Management buyouts
Aligning management, sponsors, and lenders around a fair, financeable deal.
Fairness opinions
Independent analysis to support board decisions and fiduciary duties.
Who we work with
- Founders and families selling all or part of a business
- Corporates pursuing acquisitions or portfolio reshaping
- Private equity sponsors on platform and add-on deals
- Boards evaluating unsolicited approaches
Questions
Frequently asked questions
Discuss a mandate in confidence.
Every engagement begins with a confidential conversation with a senior partner. No obligation, and no junior hand-offs.