Raven Transactions 

Boutique Approach, Global Reach

Whether advising clients on M&A activity or capital raising projects, our success is predicated upon our partner-led approach and investment in building long-term relationships with our clients.  Our specialist research function sets us apart from our competitors and empowers our clients with comprehensive insights to inform their decision making.

The question of succession is one that businesses of all shapes and sizes will eventually have to address. For most shareholders, the process of exploring succession plans raises a number of questions – when is the best time to start a process,  how much is my business likely to be worth, who will be interested in buying it, how do we approach them, what should I do to get ready for a process?

Our approach is predicated upon building an in-depth understanding of the company and its growth potential, allowing us to present the opportunity in the most positive light to a carefully curated list of strategic acquirors. By doing so, we build competitive tension in the process, while also ensuring discretion and confidentiality are maintained

Stage 1: Pre-Sale Preparation

  • Work with Management to build our understanding of the Business, the acquisition rationale and the internal/external growth factors
  • Finalise options review and agree strategy for the sale process
  • Agree shortlist of potential acquirors
  • Prepare marketing materials (typically comprising an information memorandum (“IM”), financial model and teaser)

Stage 2: Marketing

  • Circulate anonymised teaser to shortlisted parties
  • Distribute marketing materials to interested parties (subject to NDAs)
  • Facilitate initial management presentations for interested parties

Stage 3: Offers

  • Liaise with bidders to outline bidding process and timeline
  • Assess and prioritise indications of interest
  • Invite limited number of parties for detailed secondary management presentations
  • Set deadline for submission of final offer letters

Stage 4: Negotiation & Close

  • Select best offer for immediate negotiations and manage under bidders as secondary option
  • Agree heads of terms
  • Negotiate legal documents
  • Manage due diligence work streams (legal, commercial, tax etc.)
  • COMPLETION
  • Fulfil conditions to closing (regulatory, accounting, legal etc.)

Strategic M&A can be the key to catalysing growth, but if not approached in the correct manner can ultimately erode shareholder value.  We have worked with a wide range of clients from PE-backed and independently-owned companies to plcs, helping them to define, fund and execute their acquisition strategies

At the heart of our approach to buy-side M&A is working with our client to understand how M&A fits within their overall growth strategy and how making an acquisition will accelerate their own aspirations, whether in positioning for their own exit, or accessing new markets

The initial phases of a buy-side strategy can be time-consuming, particularly carrying out the necessary research into potential targets. We do the heavy lifting so that our clients can focus on running their businesses as normal.

Stage 1: Strategic Acquisition Review

  • Review of key growth objectives in the context of the company’s overall strategic goals
  • Assessment of the strategic rationale supporting M&A as a driver of growth
  • Agreeing and documenting the criteria required of potential targets
  • Desktop review of the market, using agreed search criteria, to ascertain if there are any potential acquisition targets that meet the agreed criteria
  • Agreeing shortlist of potential targets

Stage 2: Approaches

  • Approach the shortlisted target companies and establish their interest in a potential exit
  • Request and review request additional information to form the basis of an offer
  • Drafting of an indicative offer, ensuring any conditions, due diligence requirements and key assumptions are clearly explained.
  • Liaison with the target company and/or advisors, ensuring that the key commercial points, conditions, assumptions and due diligence requirements are understood.

Stage 3: Heads of Terms

  • Drafting and agreeing heads of terms to include appropriate exclusivity provisions
  • Liaison with other advisors including lawyers, tax advisors and due diligence providers. 
  • Oversight of the due diligence process and review of key findings from legal and financial due diligence

Stage 4: Negotiation & Close

  • Commercial input into key legal documents
  • Negotiation of net cash/debt and working capital provisions
  • Project management of the process through to Completion

We have a long track record of working with both private companies and institutional investors to help connect investee with investor and to secure the optimal deal structure.

We have deep relationships with venture capital, private equity and private debt funders throughout Europe and the US and have successfully raised or helped to deploy hundreds of millions of pounds of private capital for our clients

Working with SME companies or MBO/MBI teams, our approach is underpinned by helping our clients to form a robust growth strategy and clearly defined funding requirement.  Our fundraising experience and relationships with institutional investors ensure that we can match the opportunity to the correct pool of potential investors and thereby drive value for our clients.

A typical company side engagement might involve a combination of funding for organic growth, buy side M&A, cash off the table, or a partial exit

For institutional investors we can provide “boots on the ground”, helping them to source, evaluate and execute investment opportunities. Working alongside our Research and Consulting colleagues, we can review and challenge the company’s market growth assumptions and conduct pre- or post-investment reviews of the company’s systems and processes, highlighting areas for improvement

Transactions Team

Raven brings together experienced professionals from multiple complementary disciplines to provide our clients with value-adding advice. Our team have experience on a global basis across all our service lines, aligned with a worldwide network and specialist domain knowledge.

Craig Holmes


Managing Partner

Transactions

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Richard Moorehead


Partner

Transactions

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Harry Gallagher


Analyst

Transactions

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Oliver Matthews


Associate Director

Transactions

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What we do

We provide a range of complementary services to support the full life cycle of company growth and wealth creation.

Corporate
Strategic
Review
Shareholder
Financial
Review
Strategic
Planning
International
Markets
M&A
Research
Business
Intelligence
Systems,
Strategy
& Reporting
Digital
Adoption
& Transformation
Value
Creation
M&A
Sell-Side
M&A
Buy-Side
Funding
& Investment
Private
Client
Financial Planning
Corporate
Financial
Planning
Family
Wealth Services

What we do

We provide a range of complementary services to support the full life cycle of company growth and wealth creation.

International
Markets
M&A
Research
Business
Intelligence
Systems, Strategy & Reporting
Digital Adoption & Transformation
Value
Creation
M&A
Sell-Side
M&A
Buy-Side
Funding &
Investment
Private Client Financial Planning
Corporate Financial
Planning
Family Wealth
Services
Corporate
Strategic Review
Shareholder
Financial Review
Strategic
Planning