Blash Advisory is a London-headquartered corporate finance and advisory firm specialising in cross-border mergers and acquisitions advisory, serving corporates, founders, private equity investors and family offices across the UK, EMEA, the Far East and India.
Every mandate runs through the same framework, so a buy-side or sell-side transaction is managed to a defined process from the first strategy discussion to completion.
Mandate Definition and Strategy
We clarify whether the mandate is buy-side or sell-side, agree the strategic rationale, define the target or buyer criteria, and set value expectations. A clear mandate at the outset shapes every decision that follows.
Origination and Approach
We build and approach a curated list of counterparties, whether targets for an acquirer or buyers for a seller, drawing on the firm's network across the UK, EMEA, the Far East and India. Approaches are made discreetly under confidentiality to protect the client and the business.
Valuation and Deal Structuring
We value the business, structure the consideration across cash, equity and any earn-out, and prepare the offer or the information memorandum. Structuring is planned early because it affects tax, risk and the drafting of the agreement.
Due Diligence Coordination
We coordinate financial, commercial, tax and legal due diligence and manage the data room and workstreams, so issues are surfaced and addressed early rather than discovered late in the process.
Negotiation and Completion
We negotiate the terms of the sale and purchase agreement, manage the closing process and the conditions to completion, and support integration planning so the deal delivers the intended value after signing.
Blash Advisory advises across a broad range of situations, including the following.
What does an M&A advisor do?
An M&A advisor manages a merger, acquisition or divestiture on behalf of a client from strategy through to completion. On a sale, the advisor prepares the business, values it, identifies and approaches buyers, runs a competitive process, and negotiates the terms. On an acquisition, the advisor helps define the target criteria, sources and approaches targets, values them, structures the offer and coordinates diligence. Throughout, the advisor manages the data room, the workstreams and the many parties involved, and keeps the transaction moving to a close. The purpose is to secure the best available terms while protecting the client's time and confidentiality.
What is the difference between buy-side and sell-side M&A advisory?
Buy-side and sell-side describe which party the advisor represents. On the sell-side, the advisor works for the seller to prepare the business, find the right buyers, run a competitive process and maximise the price and terms. On the buy-side, the advisor works for the acquirer to identify targets, approach them, value the opportunity, structure the offer and coordinate due diligence. The skills overlap, yet the objectives differ: a sell-side mandate seeks the strongest outcome for the seller, while a buy-side mandate seeks value and certainty for the buyer. We take both types of mandate across our markets.
How long does an M&A transaction take?
A typical private company transaction takes several months from mandate to completion, and the timetable depends on the size of the deal, its complexity and whether it crosses borders. A sell-side process runs through preparation, marketing to buyers, receipt of offers, exclusivity, due diligence and legal completion. A buy-side deal follows a similar arc once a target is agreed. Cross-border transactions can take longer where regulatory approvals, tax structuring or multiple jurisdictions are involved. We set a realistic timetable at the outset and manage the workstreams in parallel so the process does not lose momentum.
How do you value a company for an acquisition?
We value an acquisition target using the recognised approaches and reconcile them into a range. A discounted cash flow captures the target's forecast earnings and the buyer's view of the future. Comparable company and precedent transaction multiples benchmark the price against market evidence. Where synergies are expected, we assess them separately so the buyer can see the standalone value and the value with synergies, and avoid overpaying by giving away synergy value in the price. The valuation feeds directly into the offer, the structure of the consideration and the negotiation strategy.
What is an earn-out and when is it used?
An earn-out is a portion of the purchase price that is paid later and depends on the business meeting agreed performance targets after completion. It is used to bridge a gap between what a seller believes the business is worth and what a buyer will pay upfront, particularly where future performance is uncertain or where the seller will stay on to run the business. Earn-outs need careful design, because the targets, the measurement period and the treatment of the business during that period can all create disputes. We structure earn-outs so the terms are clear and the incentives are aligned on both sides.
How do you find buyers for my business?
On a sell-side mandate we build a curated list of potential buyers, which usually includes strategic acquirers in the same or adjacent sectors, private equity funds, and international buyers seeking a foothold in the market. We approach them discreetly under confidentiality, so the process protects the business and its relationships. Running a competitive process, rather than negotiating with a single party, tends to improve both price and terms. Our presence across the UK, EMEA, the Far East and India means we can reach cross-border buyers who may value the business more highly than domestic ones alone.
What due diligence is required in an M&A deal?
Due diligence is the buyer's investigation of the target before completion, and it typically covers financial, commercial, tax, legal and, where relevant, technology and operational matters. Financial diligence tests the quality of earnings, working capital and the forecast. Commercial diligence examines the market, customers and competitive position. Tax and legal diligence check structure, contracts, liabilities and compliance. The findings shape the price, the warranties and the terms of the agreement. We coordinate the diligence workstreams and the data room so issues are surfaced early and managed rather than discovered late in the process.
How do you manage a cross-border acquisition?
Cross-border deals add layers that a domestic transaction does not carry, including foreign exchange, differing accounting and tax regimes, regulatory approvals, and cultural and practical differences in how business is done. We coordinate local advisors in each jurisdiction while keeping a single point of accountability for the client, so the workstreams stay aligned. Structuring is planned early, because the right holding structure affects tax, repatriation of profits and future exit. Our offices across the UK, EMEA, the Far East and India give us the reach to run transactions along the corridors our clients trade on.
What is the difference between an asset deal and a share deal?
In a share deal the buyer acquires the shares of the company and takes on the business together with its history, including its liabilities. In an asset deal the buyer acquires selected assets and liabilities, leaving unwanted items behind. Sellers usually prefer a share sale for a clean exit and often a better tax outcome, while buyers may prefer an asset deal to limit the liabilities they inherit. The choice affects tax, contracts, consents and the warranties required. We advise on the structure early, because it shapes the value, the risk and the drafting of the agreement.
When should I appoint an M&A advisor?
Earlier is generally better. On a sale, appointing an advisor well before going to market allows time to prepare the business, address issues that would otherwise reduce value, and approach the process from a position of strength rather than under pressure. On an acquisition, early appointment helps define the strategy and target criteria before approaching anyone. Engaging an advisor at the outset also protects confidentiality and keeps the owner focused on running the business while the process is managed. A short preparation phase before launch often has a direct effect on the final terms.
What is a data room and why does it matter?
A data room is a secure online repository where the seller places the documents a buyer needs for due diligence, such as accounts, contracts, employee information and legal records. A well-organised data room speeds the process, signals that the business is well run, and reduces the questions and delays that erode momentum and value. A disorganised one has the opposite effect and can give a buyer grounds to reduce the price. We help sellers prepare the data room before launch, identifying and resolving issues in advance so diligence confirms the story rather than unearthing surprises.
How are corporate finance and M&A advisors typically paid?
Corporate finance and M&A advisors are usually paid through a combination of a retainer and a success fee. The retainer covers the work of preparing and running the process, and the success fee is payable on completion and is linked to the value of the deal, which aligns the advisor's interest with a successful outcome. Buy-side and sell-side mandates can be structured differently, and the balance between retainer and success fee varies with the size and nature of the engagement. We agree the fee basis in writing at the outset so it is clear and transparent before any work begins.
