United Kingdom: M&A/Private Equity

Business owners in Lancashire are increasingly planning their exits earlier than ever before, driven by a shift in mindset that views businesses as strategic investments rather than lifelong ventures. This trend is reshaping the regional M&A landscape and influencing buy-and-build strategies across the North West.

In any share sale, the agreed purchase price is only part of the deal. The parties must also decide who bears the risk if the target’s business is not quite as the buyer expected.

These days, a risk free M&A deal may be possible, as warranty and indemnity insurance (W&I) is now available for deals of all sizes. W&I policies were created for mega deals (international deals between companies and private equity investors), where sellers were unwilling to give commercial/tax warranties.

The UK is proposing a new regulatory framework for captive insurers that could transform how private equity sponsors manage insurance risk and capital across their portfolios. With global captive premiums projected to reach $161 billion by 2030, these reforms aim to make the UK competitive with established offshore domiciles like Bermuda and Guernsey. The consultation introduces streamlined authorisation, reduced capital requirements, and simplified governance that may particularly benefit sponsors seeking

Buy-and-build remains one of the most popular value-creation strategies in the UK mid-market. A sponsor or management team acquires a platform business and then grows it through a programme of bolt-on acquisitions, consolidating a fragmented sector and, ideally, achieving multiple arbitrage along the way.

The UK government has launched a comprehensive consultation on modernising corporate reporting, proposing significant changes to annual reports, AGMs, dividends and shareholder communications.

When a sustainability data platform attracted venture capital interest, the founders believed their growth trajectory spoke for itself. But as due diligence uncovered gaps in share structure, unsigned contracts, and unassigned intellectual property, what seemed like a straightforward investment began to unravel. This case study examines how hidden operational issues can transform investor confidence into doubt...

In this episode of our public M&A podcast series, we talk about the UK Takeover Panel's latest consultation (PCP 2026/1) on a series of miscellaneous changes to the Takeover Code.

Fried Frank partners Adam D. Summers and Jons Lehmann discuss the evolving fund finance market and the expanding array of liquidity solutions available to fund managers. The Q&A examines critical factors influencing tool selection, lender expectations, and how different strategies align with specific fund structures and investment approaches.