Buy-Side Mergers & Acquisitions

Practical, experienced counsel for
business buyers up to the Hart-Scott Rodino (HSR) threshold ~$125M.

Fast, strategic, plain-English guidance designed for Entrepreneurship Through Acquisition(ETA)/search fund buyers, small private equity, and operator-led acquisitions.

Our buy-side work spans transactions up to the HSR threshold, but most of the buyers we support are acquiring businesses between $1M and $25M in value. This segment demands fast diligence, practical risk assessment, and clean negotiation — especially for ETA/search buyers, independent sponsors, and operator-led acquisitions.

Buying a Business Requires Clear Eyes and Solid Judgment

Acquiring a small or mid-sized business is equal parts opportunity and risk.

The deal will move quickly.

The diligence list will be longer than you expect.

And the draft documents the seller hands you will almost never protect your downside.

Our job is to help you see the risks early, negotiate intelligently, and close with confidence — without slowing you down.

We Support Buyers Through the Entire Acquisition

Our buy-side representation includes:

  • Comprehensive review of seller’s draft purchase agreement Asset Purchase Agreement(APA)/Stock Purchase Agreement(SPA)
  • Issue-spotting and risk identification (legal, structural, and practical)
  • A plain-English analysis memo explaining terms, traps, and negotiation posture
  • Negotiation of key legal and business terms
  • Diligence oversight and coordination with your financial/Quality of Earnings (QoE) team
  • Review and negotiation of all ancillary agreements:
    • employment/transition agreements
    • non-competes
    • equity rollover documents
    • promissory notes, seller financing, earnouts
  • Coordination with lender counsel (if applicable)
  • Closing mechanics and signature packages
  • Post-closing questions or follow-ups

We focus on what will matter after you own the business — because that’s where the real impact is felt.

Why ETA / Search Buyers & Independent Sponsors Choose Us

We move fast.

Deals in the ETA/search world move faster and more informally than traditional mergers and acquisitions (M&A).
Our workflows are built for that pace.

We price transparently.

Fixed-fee or closing-based pricing means you never worry about hourly clocks or runaway legal bills.

We focus on post-close realities, not hypotheticals.

We care about how the agreement will impact you when you’re running the business — not abstract risk allocation.

We understand small-business seller dynamics.

Small businesses don’t have perfect financials, perfect contracts, or perfect recordkeeping.
You need a lawyer who knows what actually matters — and what doesn’t.

We’re not a big firm that slows the deal down.

You want judgment, not bureaucracy.
We deliver clean, practical redlines and advice that keeps momentum strong.

Our M&A Pricing Model: Transparent, Aligned, and Built for Small Business Deals

We don’t use hourly billing for M&A. Instead, our model combines:

  • a reasonable monthly retainer during the engagement, and
  • a closing success fee that makes up the majority of our compensation

The success fee is paid only if the deal closes — and only at closing.

This structure is intentional.
It’s a risk-sharing arrangement that aligns our incentives with yours:
you want the deal to close smoothly, cleanly, and on the right terms, and so do we.

It also prevents the runaway hourly fees that make traditional M&A representation unpredictable and inaccessible to many small business owners.

Our Guided Acquisition Process

Every M&A engagement follows a guided, plain-English process.

Introductory Call
Step 1
Introductory Call

A quick call to understand the target, deal structure, financing, timeline, and your goals.

Clear, Predictable Pricing
Step 2
Clear, Predictable Pricing

We’ll make sure we don’t have any conflicts in representation and send an Engagement Letter with a transparent fee proposal – no billable hours.

Assistance with Legal Diligence
Step 3
Assistance with Legal Diligence

We’ll handle legal diligence requests, and help review and summarize the target’s dataroom.

Initial Drafting or Review
Step 4
Initial Drafting or Review

Depending on the transaction, we will either prepare the buyer’s initial draft agreements or review the seller’s draft package. We don’t send out boilerplate — every document is tailored to the specific deal structure, risks, and objectives.

Review Seller Comments + Strategy Memo
Step 5
Review Seller Comments + Strategy Memo

Once the Seller’s attorneys have marked up the documents, you’ll receive a plain-English analysis of:

  • key risks
  • problematic terms
  • “market” vs. “off-market” provisions
  • suggested negotiation priorities
  • diligence pressure points
  • structural considerations
  • tax or entity issues to flag for your CPA

This becomes your roadmap for the deal.

Negotiation & Diligence Support
Step 6
Negotiation & Diligence Support

We negotiate directly with seller’s counsel and coordinate with your banker, CPA, QoE provider, and lender.

Closing
Step 7
Closing

We manage final drafts, signatures, closing mechanics, and post-close file delivery.

Ideal for Buyers Who Want
Strategic Counsel, Not Paper-Pushers

We’re a fit if you are:

  • an ETA / search fund buyer
  • an Independent sponsor
  • a small PE firm
  • an entrepreneur-operator buying a second or third business
  • a strategic acquirer expanding into new markets
  • a family offices
  • an individual buying a business through SBA financing

If you’re buying a business under ~$125M, we’re built for you.

Related Mergers & Acquisitions Services

Before you sign a Letter of Intent, understand exactly what you’re agreeing to.

Learn More

Ready to Buy a Business with Confidence?

If you’re preparing to acquire a business—or already negotiating an LOI—we’re here to give you the clarity, judgment, & leverage you’ll need to close well.

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Ferreri Miller, PLLC is located in Louisville, Kentucky. Our attorneys are licensed in Kentucky. We may represent clients in other jurisdictions only where permitted by applicable rules, and we may associate with local counsel when required. This website is for general informational purposes only and does not constitute legal advice. Viewing this website or contacting us does not create an attorney-client relationship; no such relationship exists unless and until we confirm engagement in writing through a signed engagement agreement. Do not send confidential information until an attorney-client relationship has been established in writing. Past results and client testimonials do not guarantee future outcomes. This website is not intended to solicit clients where prohibited.
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