Two sides of the same work
We work with sponsors putting capital to work and with the companies and founders on the other side of the table, though never in the same transaction. For a sponsor, the work runs from fund-level arrangements and entity structuring through acquisitions, add-ons, financing, portfolio governance, and eventual exits. For a company receiving an investment, the questions are more immediate: what control is being given up, what the founders' remaining ownership really amounts to, and what the company may no longer do without approval. Both sides benefit from settling which of those roles we are in before any work begins.
The documents that shape the years after closing
Purchase and subscription agreements get the attention, but the governance documents decide daily life afterward: board composition, which decisions require investor consent, information and reporting rights, restrictions on new debt or on hiring above certain levels, and the provisions governing later transfers of ownership. Management equity arrangements deserve careful reading by the people receiving them, including vesting, what happens on departure, and how value is measured at an exit. Where several classes of ownership exist, the order in which proceeds are distributed usually matters more to founders than the headline valuation does. We read those provisions together rather than one at a time, since they were drafted to work as a set.
Preparing for a process
A company approached by a sponsor should have corporate records, ownership history, material contracts, and employment arrangements in order before diligence starts, because gaps found late tend to turn into price or indemnity discussions. Identify any contracts that require consent when ownership changes, since those can set the timetable for everyone else. Decide early who inside the company is part of the process and who is not. Structure and tax consequences belong with your accountants, and that review runs alongside the legal work rather than after it.
