Independent M&A advisory
Advising founder-owners, investors and acquirers on transactions in healthcare and life sciences, technology and industrials.
Partner-led from first conversation to completion.
Coverage
Healthcare and life sciences, technology, industrials
Clients
Founder-owners, investors and acquirers
Engagement
Partner-led throughout
Office
New York
What we do
Sell-side advisory
Full competitive processes for owners who have decided to sell, or are close to deciding.
Unsolicited approaches
Assessment and negotiation for owners contacted directly by a buyer.
Acquisition search
Proprietary origination for investors and acquirers working to a defined thesis.
Transaction execution
Debt financing, diligence and negotiation support on identified assets.
Approach
A good outcome rests on two things
The first is preparation. How the financials are presented, how much of the business depends on particular individuals, whether concentration has been addressed or merely explained: these set the range within which any acquirer will work, and very little of it can be repaired once a process is under way.
The second is competitive dynamics. An outcome is determined by how many credible parties are engaged, at what moment, and with what understanding of one another. Creating that tension is deliberate work; holding it through diligence, when parties fall away and timetables slip, is what separates a process that keeps its price from one that drifts.
Neither substitutes for the other. Preparation without competition produces a well-documented negotiation with a single counterparty. Competition without preparation produces interest that erodes the moment diligence begins.
Principles
Our values
Excellence
Working through the implications before a decision is taken, and assembling the right group around each transaction. Part of it is patience: markets are not always favourable, and we do not begin a process in the wrong conditions.
Innovation
We use AI and technology to their full extent and build in house rather than buy, which is what allows a small team to cover a sector properly.
Trust
We are building on long-term relationships rather than individual transactions. A firm that expects to advise the same people in ten years has every reason to say the unwelcome thing now.
Sectors
Healthcare and life sciences, technology and industrials
Businesses in these sectors are not valued on generalist terms. Value sits in places a generalist process does not examine, and risk in places a generalist adviser does not clear before a buyer identifies them.
Healthcare & life sciences
Tools and reagents, diagnostics, pharma services, provider groups and health technology.
Technology & SaaS
Vertical software, infrastructure and data businesses.
Industrials
Process and capital equipment, engineered components, and water and environmental technology.
Research & news
Recent analysis
Preparation and leverage
Most of what determines a sale price is settled before a buyer sees the business.
Valuation in life science tools
Why catalog revenue outprices custom work, and how regulatory posture changes the buyer universe.
The buyer universe
Strategic platforms, private equity, search funds and family offices pay and behave differently.
Confidentiality
Buyers receive an anonymised summary before they receive a name. No party learns the identity of a client without a signed confidentiality agreement, and no company is approached without the client's instruction.
Contact
Thirty minutes, without materials or obligation. We will give you a considered view of value, of what is currently constraining it, and of whether this is the right point at which to act.
Where our view is that you should wait, we will say so.
Contact us