Our M&A Team provides pragmatic, commercially relevant and bespoke advice at all stages of M&A transactions. Whether it’s structuring a data room for a vendor-led bidding process, negotiating on your behalf during an all parties meeting or advising on a sale or acquisition, our team will provide their commercially relevant knowledge throughout the transaction. We advise clients in all stages of their business lifecycle, ranging from rapid-growth start-ups to listed corporates allowing us to provide tailored corporate advice relevant to the unique circumstances of each of our clients.
Mergers and Acquisitions
The M&A Team covers a wide range of transaction types, ranging from smaller transactions to multi-million pound, complex deals. One part of the team specialises in complex M&A, which involves intricate consideration mechanisms, multiple phased transactions, reorganisation of group structures pre-acquisition and often in collaboration with our overseas colleagues where the transactions have international elements.
Yavan Brar leads the Complex M&A Team, using his particular understanding of the law and his skillset in translating the clients' desired commercial outcomes into the drafting.
Recent M&A Corporate deal highlights include:
- DataOps.Live – advice on their £10.3 million series seed funding round led by the west-coast US venture capital investor, Anthos Capital alongside co-investor, Snowflake Ventures
- $60 million – New York Stock Exchange listed SatixFy Communications Ltd advised on sale of SatixFy Space Systems UK Limited
- £21.2 million sale of national financial advisory business to market consolidator
- £10.5 million sale of self-storage asset to US private equity fund
- £8.2 million sale of market-leading travel agency
- £5.3 million trade sale of multi-generational steel business to key supplier
- £2.7 million acquisition of independent financial advisor business by expanding financial advisory network
- £400k sale of UK manufacturing branch of US-based private equity backed label business
- £250k pre-pack sale of the business and assets of a national EV station installer in administration
- £100k sale of the business and assets of an insolvent regional audio-visual installer during liquidation
Herrington Carmichael is recognised for its market-leading expertise in high-value transactions and advisory work across the financial services sector. We offer thorough and practical expertise tailored to the specific needs of PRA and FCA regulated clients and work with a range of acquirers and vendors in the Financial Services sector. These range from the requirements of the Financial Services & Markets Act and the FCA Regulations, to the ways that businesses generate revenue and provide advice to their clients.
Our clients rely on us to advise on their most strategically important transactions, where commercial priorities, regulatory requirements and people considerations intersect. With a strong understanding of the regulatory landscape and the day-to-day realities of operating in a regulated environment, we are able to navigate complex issues and deliver efficient solutions that work in practice as well as in principle.
Our specialist team have extensive experience of navigating these points during a transaction and are able to deliver pragmatic legal solutions to achieve clients' objectives and the team has been recognised by industry peers, winning the "Best Legal Support to Advisers" award in the 2024 FT Adviser Awards.
Recent highlights of the team include:
- £60m sale of retained equity from 12 subsidiaries to national financial advisory consolidator
- £27.5m sale of discretionary fund manager
- £2.7m acquisition of entire issued share capital of independent financial advisory business
- £9m sale of financial advisory division of regional chartered accountancy practice
- £5.5m sale of financial advisory limited liability partnership
HC's Technology M&A Team has overseen changes within the dynamic global tech ecosystem marked by rapid innovation, with emerging technologies like AI, blockchain, and 5G shaping industries, fostering a digital transformation across the globe and continues to grow at an immense rate. The Herrington Carmichael M&A Team have specialist expertise in working with technology companies whether in selling or buying companies or assets.
Our tech M&A team, use their particular knowledge on the nature of tech assets and the market to achieve a desired outcome for our clients.
Herrington Carmichael's Healthcare M&A Team has been navigating a transformative healthcare landscape, embracing digital innovation, personalised medicine with an increasing emphasis on preventative care.
HC acts for a plethora of clients ranging from care homes, medical labs, medical equipment suppliers and dental practices and guides his clients through the intricacies of healthcare related transactions. In particular, we have extensive experience in dealing with Care Quality Commission regulations and General Medical Council regulations. The team are familiar with the processes required to ensure the relevant approvals are sought leading to an overall smoother process for our clients.
The team has many years of experience building in depth and specialist knowledge to handle the technical aspects of advising businesses operating in the leisure, hospitality and retail sectors and are able to advise on all sale, acquisition, commercial contract and compliance matters for any size of business.
The team can provide strategic advice to guide you through a sale or acquisition and to assist with the day to day running of a business. We understand the time pressures involved in a sale or purchase of a business and will project manage the transaction from instruction through to completion.
The team understands the employment, real estate and regulatory law considerations that apply to businesses operating in the leisure, hospitality and retail sectors and can provide a full, holistic legal service to support your business.
The team has a track record of assisting business owners to successfully sell and also to grow, via acquisitions, their independent leisure, hospitality and retail companies ranging from one off smaller shops through to garden centres and marine businesses.
We have many years of experience advising professional service firms on corporate matters with a specific focus on assisting with the sale and purchase of accountancy and bookkeeping businesses. Each professional service business and transaction requires a tailored approach having regard to the specific industry's regulations and professional bodies interaction with the anticipated transaction.
We have acted for a broad range of professional services firms ranging from accountants to insurance brokers assisting owners who are looking to expand their businesses by acquiring additional client books or who are looking to sell their entire business. The team understands the regulatory requirements that apply to professional services firms and are adept at project managing transactions from instruction through to completion.
Our Corporate Insolvency Team has vast experience advising on business acquisitions and sales that are driven by insolvency.
Frequently working alongside industry-leading insolvency practitioners, Herrington Carmichael is able to provide swift and effective advice to complete transactions within tight timeframes, with a tailored service for the requirements of each individual transaction.
Our Corporate Insolvency Team's pragmatic services also extend to assisting with the regulatory considerations that parties to distressed M&A need to make, thereby providing a full service to its valued client base.
Herrington Carmichael is recognised for its market-leading expertise in acquisitions ranging from £1–10 million in enterprise value. Undertaken for owner managed businesses; whether that is a business owner seeking inorganic growth via acquisition as part of a pre-exit growth strategy, or a business owner seeking to exit and realise full value for the business, Herrington Carmichael's specialist business ownership M&A Team can assist.
Herrington Carmichael delivers clear, responsive and proportionate legal advice and which is consistent with the same level of care and legal expertise as larger transactions – but often focused on different objectives and typically within tighter budgets and timelines.
We are trusted by entrepreneurs, SMEs, and family-run businesses both buy-side and sell-side to support them through every stage of the transaction, providing practical guidance, managing risk and helping you close your deal with confidence.
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What our clients say about us
We were very happy with our service. Being first-time buyers and brand new to the property world, Annari & Mary-Jayne relieved all of our worries and made our journey very stress-free and relatively easy. Thank you.
We received excellent support in reviewing and modifying our Wills to our latest needs. The communication has always been straightforward and very effective and we achieved the objectives we set at the beginning of the process. Strong expertise and legal knowledge have been key to the successful completion.
It was a very straightforward process & Charlotte explained everything clearly to us in a very friendly way & answered any queries we had. It was a pleasure to have her deal with this matter, and I would certainly come to your firm of solicitors on that basis. Thank you so much.
Paul provided calm, helpful, constructive and thorough advice on my matter and I will be in touch again to progress.
Aadil has been representing my son through a very challenging child custody/recovery case. His help and knowledge has been fantastic. He went above and beyond working on his day off too make sure court papers were delivered on time. I wouldn't hesitate to recommend Aadil.
I just wanted to write a huge thank you for all your help and support during my recent divorce proceedings There were times when it seemed things would never get resolved but thankfully with your guidance everything went relatively smoothly in the end.
Annari is an excellent Solicitor. We have always used her services for all of our property conveyancing jobs. She is a valuable asset to your company.
We had the pleasure of working with Annari on buying our very first house. We would like to take this opportunity to let you know how efficient Annari was throughout the entire process. Annari really helped to make buying our first home an easy process! She absolutely went above and beyond her call of duty.
The service we received was exceptional. We were always updated and Annari would answer any questions I had immediately. Keep doing what you do Annari. Thank you so much for everything, and Amy too.
Thanks again, we’ve always felt in good hands. It is for this reason we’d highly recommend Herrington Carmichael and especially Annari.
Annari is an excellent Solicitor. We have always used her services for all of our property conveyancing jobs. She is a valuable asset to your company.
We had the pleasure of working with Annari on buying our very first house. We would like to take this opportunity to let you know how efficient Annari was throughout the enitre process. Annari really helped to make buying our first home an easy process! She absolutely went above and beyond her call of duty.
Both Holly Bray & Jessica Brooke were fantastic from start to finish on the purchase of my new build property. Nothing was an issues for them and I didn’t need to chase them for anything at all. I was kept well informed all the way through the process to completion and everything was dealt with in a very pleasant and professional manner. I would happily recommend Herrington Carmichael to anyone looking for a conveyancer for the purchase of their property. 5 stars.
From start to finish Herrington Carmichael staff have been excellent. Communication has been second to none and cannot fault them for everything. Would not hesitate to recommend them to anyone looking for a reliable, friendly and very efficient service.
Being first time buyer, Holly was very helpful in explaining the process and expediting all the things. Thank you very much for quick process.
Professional service, nice communication, I would have no hesitation in recommending and will be using them again in the near future.
They were super helpful, very efficient and had timely communication. I would use them again and recommend them to friends and family.
Laura and Amy have both been fantastic throughout the whole process. Both were very patient with any questions we had. Everything was made easy for us, making our first house purchase painless and enjoyable. We will certainly be using your company again. Thank you all so much.
Madelyn was always helpful, kind & supportive throughout.
Madelyn Wellstead is a fantastic Senior Apprentice Solicitor who worked on a family law case involving myself and my son. During her time working on my case she was extremely professional and supportive throughout. My case was a very complex case and had alot of ups and downs but Madelyn at all times kept Me informed and up to date. I would highly recommend her as very competent and very knowledgeable and an over all very nice decent person.
Over the past few months Nicole Miller, a Legal Director in Herrington Carmichael’s Private Wealth and Inheritance Department, has provided outstanding service in creating a trust for our family. From the outset, Nicole was professional, knowledgeable, and incredibly reassuring, guiding us through what could have been a complex process with clarity and patience. She took the time to understand our circumstances fully and explained everything in straightforward terms, ensuring we felt confident at every stage.
Nicole’s expertise, attention to detail, and responsive communication gave us complete peace of mind. She handled our matter with both precision and genuine care, making us feel that our family’s interests were truly valued. We are extremely grateful for her support and would wholeheartedly recommend her to anyone seeking expert and compassionate private wealth advice.
Considering the mess I was in when I first met you, I’ve managed to stay intact and that’s mostly down to your advice keeping me on the straight and narrow. For that I will always be grateful.
I just wanted to write a huge thank you for all your help and support during my recent divorce proceedings. There were times when it seemed things would never get resolved but thankfully with your guidance everything went relatively smoothly in the end.
What a joy to deal with a personable, on the ball and helpful individual! You do your organisation a great service helping clients now during Covid as you are, and I would not think twice about using your services in the future. Thank you for being you and going the extra mile!
Throughout the whole process, Roisin acted quickly on all aspects, was easy to get hold of, responded with pace and communicated fantastically, always finding effective ways to translate complex legal jargon into layman’s terms. Roisin is clearly operates at the top-end of her profession and as such, is someone I would wholeheartedly recommend.
I opted to use Roisin at Herrington-Carmichael to support with my purchase & sale as a result of her personable manner. Roisin made me feel that she had my best interests at heart and that I wouldn’t be just another transaction. Roisin more than lived up to my first impression, in fact I attribute the successful completion of my sale and purchase – which all but fell-through at the eleventh hour – to her tenacity, expertise and willingness to go above and beyond.
It’s been a pleasure working with you on my new venture. Your tenacious professional approach to the task in hand, has been refreshingly inspiring to say the least.
Sarah and her team have made this difficult time much better by the way they dealt with my case. The process was straightforward and i would use Sarah again without hesitation.
Sarah was very thorough, extremely knowledgeable but remained personable throughout making me feel at ease when needed.
Thank you again for all your help with what I have been through over the last year and a half. You gave me the confidence and belief to get through what has been the toughest time in my life. (You’ve got this) Thank you.
I can't thank Aadil and Madelyn enough for what they did for me in such a short space of time. I had previously used Aadil and didn't hesitate to contact him again regarding the issue I had.
Aadil has been representing my son through a very challenging child custody/recovery case. His help and knowledge has been fantastic. He went above and beyond working on his day off to make sure court papers were delivered on time. I wouldn't hesitate to recommend Aadil.
I can honestly say that i have never received such good service from a solicitor ( and I’ve bought and sold many houses!!) as I have from Leo. He has been so professional, responsive and pro-active - it has made a huge difference to us during this process. I do hope that you recognise him for such good service and advice. Many thanks to all.
I have had the pleasure of working with Liz on several complex property purchases, including overseas based companies and legal opinions, commercial leases analysis, building contracts assignments and collateral warranties. On each occasion, Liz has acted promptly, kept me appraised of the progress and demonstrated excellent commercial awareness and professionalism in dealing with client’s solicitors, in order to meet tight completion deadlines. I have no hesitation in recommending Liz for all property related legal matters.
I also would like to specifically recognise Rachel Duncan, Partner Real Estate, for her outstanding support. Her expertise in real estate, particularly within the housing sector, has been exceptional. She provided clear, pragmatic advice on a complex matter, helping us navigate potential disputes and avoid unnecessary costs.....Her practical, solution-focused approach, combined with her responsiveness and professionalism, made a significant difference. She is a real asset to the firm.
The property team have been diligent, timely and highly responsive. This has allowed us to focus on our developments knowing that the matter is in capable hands.
I am delighted with the level of service and advice I got from Rachel. I felt in a safe pair of hands which took the stress out of negotiating the lease with our new landlord. It allowed me to focus on the fit out of our larger office.
She has always been extremely knowledgeable and professional, providing fantastic support and skill across all property transactions.
Thanks for all your help with the finalising the renewal lease for our tenant company in Ottershaw. You ensured that the process went smoothly and we were able to discuss various aspects of the renewal and decide which factors were relevant to this transaction and which ones were optional.
We used Herrington Carmichael to assist with a neighbour dispute regarding trespassing. With Daniel’s support, we were able to achieve our desired outcome in a timely manner. Daniel was approachable, clear in his communication and instructions, and provided us with well-informed advice on the best options for resolution. All communication was transparent, and any costs incurred were clearly explained in advance before work was undertaken. We would not hesitate to use Herrington Carmichael again for any future legal services and would definitely recommend them to others.
Professional, informative and would recommend.
Thank you so much, Thomas, for your hard work, persistence and patience throughout the process of getting the required documentation over the line by the deadline. It certainly was a challenging and frustrating time with quite a few obstacles thrown in our way, but your determination got us there.
I would love to start by saying our experience with Herrington Carmichael has been amazing from start to finish, and I would highly recommend the firm. Thomas Joucan was absolutely brilliant, and I couldn’t be any happier with his professionalism and absolute integrity, with such speedy replies and getting all aspects of our purchase and sale tied in seamlessly. Without doubt a brilliant, honest and professional solicitor with a big future ahead.
Tim Hardesty is our residential development lawyer. He is a good lawyer and has offered very sound advice. He is able to provide advice on land purchasing, planning, SDLT and issues that impact on the land buying process. What I like about Tim is that he doesn’t use legal jargon and has a common-sense approach to land buying. He is proactive in getting deals done and, importantly from my perspective, doesn’t hold deals up over unimportant legal points. He is also very personable, and well known and liked by other professionals.
We've had a great experience with Herrington Carmichael when buying our first house! All of this was completely new to us and they made sure the process was smooth and easy! Lisa has been amazing and was a recommendation from some other family members who have used her in the past. Thanks again.
I have thoroughly enjoyed working with you. Your professional advice, responsiveness and straightforward approach have been invaluable.
I recently had the pleasure of working with Herrington Carmichael and I can't express how grateful I am for their support and expertise. From our very first interaction, they made me feel valued and understood my needs. Their professionalism and attention to detail were evident in every step of the process. The team was always available to answer my questions and provided clear explanations of the legal jargon, which made everything much more manageable. They navigated the complexities of my purchase with such skill and care, ensuring that I was informed and comfortable at every stage. It was clear that they were committed to achieving the quick turn around from agreement to completion, and their hard work truly made a difference. I could not have asked for a better solicitors in what could have been a stressful experience. I highly recommend Herrington Carmichael to anyone in need of legal services. Their dedication and proficiency are unparalleled, and I am incredibly thankful for the support they provided. Thank you for making this journey so positive!
It was a pleasure working with Liz and Hannah on this transaction, securing crucial funding for an iconic hotel in South Devon. The communication and commercial guidance from Liz, Hannah and the wider Herrington Carmichael team was first rate throughout. I would not hesitate in recommending them for future transactions and look forward to working with the team again soon.
Dealing with Hannah was very easy. She was very helpful and professional.
Absolutely spot on - well done. I cannot be more thankful to all of you for being extremely helpful and professional right from day one. Special thanks to Hannah for getting everything sorted out at the last minute. Thank you for the excellent service and helping us out at every stage of our first house purchase. You will always be remembered!
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Frequently Asked Questions
Find answers to your most pressing questions about our services and processes.
There are many ways to value a business and different industries prefer different methods. Accountants should be able to carry out a strict financial valuation for you however please note, it is worth engaging corporate finance advisors who have experience in the relevant industry to determine a valuation on the market.
Yes you can. There are many variations on the structure of a sale which can be adapted to suit each client and their needs. With an asset sale, you can select the parts of the business which you intend to sell while maintaining ownership of the remainder of the company. Another option is to go through a de-merger process by splitting the company into two and splitting the assets up in readiness for the sale of one of the companies. Please get in touch if you wish to find out more.
It’s crucial to get some legal advice early on in an M&A transaction, ideally before you even begin exploring potential targets or draft any agreements. Our team are primed to give advice on a range of matters including:
- The legal aspects of any term sheet agreed with the other party
- Any pre due diligence agreements i.e. non-disclosure agreements or exclusivity agreements
- Raising or answering any due diligence questionnaires
- Drafting and negotiating the legal documentation
- Navigating you through the disclosure process
- Completing the deal
No, not necessarily. There are many different types of consideration which can be used to pay for a business. The most straight forward is cash but it is unusual to have enough cash funds available to cover the value. Often there is a part payment in cash. Consideration can also be satisfied by a loan from the Seller to the Buyer which will be repaid in accordance with some terms. This could attract interest and be secured against the business. The Buyer may offer the Seller shares in its company or a connected company to satisfy the consideration. If the Seller needs to sell the business in tranches, it is possible to grant an option over the business to the Buyer for them to buy in several stages to allow the cash to be released periodically. Please get in touch if you wish to find out more.
















