M&A Fee Guide 2021/2022 — EMEA Edition

In partnership with DealCircle, the inaugural EMEA edition of the M&A Fee Guide offers distinct regional data and insights on M&A advisory fees in the middle market.

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The Current State of M&A Advisory Fees

In partnership with DealCircle, Firmex’s fifth annual M&A Fee Guide 2021-2022 is the authoritative source on M&A fees for sell-side engagements in the middle market. Offering EMEA-specific data for the first time, the guide enables M&A advisors and their clients to have more transparent conversations on advisory fees and how they’re charged, to better align expectations for compensation on the deal.

Using data gathered from a survey of midmarket dealmakers, the guide highlights key points of interest on M&A fees, shared across geographies and deal sizes. The findings in the M&A Fee Guide are also presented with featured commentary from M&A experts at DealCircle, JPA Brenson Lawlor, and Aventis Capital, sharing their views on how the data matches up with their professional experience.

Better Conversations on M&A Fees 

In reading the guide, M&A advisors and business owners will learn surprising insights on the expectations, negotiations, structuring, and associated practices surrounding M&A fees. The guide serves as a reference point on what would otherwise be a complex and highly variable topic—the pricing of M&A fees.

Key Highlights from the M&A Fee Guide 2021-22

  • In response to COVID-19, only 5% of M&A practitioners reported adjusting their fee structure. 
  • In an engagement letter setting out the terms and conditions for the client-firm relationship, only 35% of M&A professionals include a break fee if the client declines an offer.
  • When asked about engagement, work, or retainer fees collected by M&A professionals, 51% said they are typically netted against the success fees earned.

Get Access to This Year’s Fee Guide


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