Making acquisitions work — 5 practical lessons from 25 years of deal experience

Acquisitions can transform a business — however, growth through acquisition demands clarity, discipline and an ability to manage people, process and pressure without losing sight of the bigger picture.

Here, with decades of deal experience behind them, corporate transaction experts Rupert Gill and Jon Close set out the practical lessons, human factors and recurring challenges that define successful transactions.

1. Start with a clear strategy & don’t drift from it

Every acquisition journey should begin with a firm understanding of what you’re trying to achieve. That means defining the strategy early and sticking to it. Changing direction mid‑process creates confusion, slows momentum and makes it harder to evaluate opportunities consistently.

It’s also essential to build the right advisory team around you. Acquisitions aren’t just legal exercises — they also involve tax, deal advisory, financial analysis and more. Having coordinated advisers who understand your strategy makes the process smoother and far more effective.

Also, while it’s tempting to focus all your energy on the next deal, the existing business still needs attention. Acquisitions are time‑intensive and can easily distract leadership. Growth only works if the core business continues to evolve and perform.

2. Understand the sellers’ psychology

Once heads of terms are on the table, the dynamic often becomes more delicate. Sellers may become protective, hesitant or resistant to certain terms and understanding why is crucial.

For many sellers, the business that you’re buying is something they’ve built and therefore it’s personal. Some want to sell and walk away immediately. Others want to stay involved in the handover. Knowing their priorities helps you to navigate negotiations more effectively.

Strong communication at every level is vital. Sometimes advisers can resolve issues — other times, a direct conversation between the parties is what breaks a deadlock. What matters is keeping dialogue open and using the right channel at the right moment.

3. Streamline due diligence by coordinating advisers

Due diligence has become far deeper and more complex over the years. Questionnaires that were once short are now extensive and multiple advisers — legal, tax, financial and deal advisory — often ask similar questions for different reasons.

Without coordination, sellers end up answering the same queries repeatedly, slowing the process and increasing frustration.

The most effective approach is to align advisers at the outset. Agree who’ll ask what, avoid duplication and tailor the due diligence to what matters for the deal. Materiality is key — there’s no point spending time on trivial issues in the context of a large transaction.

Regular check‑ins with the client ensure that the review stays focused on what they truly care about and the final report reflects the information that they actually need.

4. Post‑completion is where the real work begins

While it’s easy to think that the hard work ends at completion, in reality that’s when the next phase begins. A well‑prepared buyer will already have a 100‑day plan or similar roadmap for what needs to happen next.

Due diligence reports should include a clear list of post‑completion actions, helping the buyer to prioritise what needs attention. Beyond the paperwork, however, integration is the real challenge.

A newly acquired business needs visible leadership and active management. If the buyer isn’t present — literally and figuratively — the acquisition can falter. Employees will naturally feel uncertain about their future and, without reassurance, they may look elsewhere. Early visibility and engagement help to bring teams together and avoid a ‘them and us’ culture.

5. The most important question: “Is this still the right deal?”

As a transaction progresses, new information emerges, terms shift and expectations change. It’s easy to get swept along by the momentum of the deal, especially when completion is close and everyone is tired.

One of the most valuable disciplines is simply stopping to ask: “Knowing what I know now, do I still want to do this?”

Deals can evolve significantly from the original heads of terms. Protections you expected may no longer be available. Risks may look different. Before signing, it’s worth taking stock and making sure that the deal still aligns with your goals.

We’ll produce a clear summary of how the deal has changed — and what it now looks like — to help buyers to make that decision with confidence rather than pressure.

Talk to us

Acquisitions work best when you’ve got experienced, commercially minded advisers guiding you through every stage — from shaping your strategy to negotiating terms, managing due diligence and supporting post‑completion integration. Our corporate team is one of the UK’s most active legal teams for merger and acquisition activity and our award‑winning lawyers provide the guidance and efficiency that you need throughout your growth journey.

Talk to our team by calling 0333 004 4488, emailing hello@brabners.com or completing our contact form.