Attorney - M&A - Lawyer

intermediary profile

November 06, 2022

by an intermediary from Texas A&M University in Houston, TX, USA

Does anyone know of an M&A attorney willing to complete due diligence/closing contingent on a successful transaction?

Or possibly for equity?

I am acquiring HVAC and other service contractors around the U.S. and looking for a partner/advisor.

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commentor profile
Reply by a searcher
from Yale University in Rochester, NY, USA
One way to get around some of the constraints might be to negotiate (i) a smaller flat fee for the legal due diligence work and (ii) an additional fee (e.g., you can call it a "success fee" or something else) if and when the deal closes. You can frame it as asking the lawyer to share in some of the risk with the client. A lawyer who wants to build a relationship in the hope of getting future business may very well accept that bargain. I have seen it done before with very big (i.e., billion dollar) deals, and there's no reason why it can't be done with smaller deals. I haven't researched the "legal ethics" issues, and while I am not providing legal advice here, my initial impression is that this hybrid arrangement should generally pass (legal ethics) muster.
commentor profile
Reply by a searcher
from Rensselaer Polytechnic Institute in Durham, NC, USA
What roman says. You definitely don't want to this for a number of reasons, least of which are conflicts of interest. You want unfettered advice from an attorney, not someone pushing you to close so they get paid.

Frankly - if you don't have the money available for competent counsel, you're setting yourself up for failure.
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