The quiet bottleneck.
Most sell-side mandates stall in the same place: the weeks of analyst work between the engagement letter and going to market.
The information memorandum, the data book, the buyer universe. Most firms burn principal time on it, hire for it, or let the deal drift while it waits. We productised it instead. You stay in front of the client. The materials arrive finished, on your paper, on a date we commit to in writing.
Price a mandateAn issue-ready information memorandum inside ten working days, against a date agreed before we start.
Data books reconciled to the filed accounts. Material figures in the IM carry a source reference, not an adjective.
White-label as standard. Your voice, your name on the cover. Your client need never know we exist.
Three products. Fixed fees.
Information memorandum
Twenty-five to forty pages, designed and ready to issue. Built up from the data book, not down from adjectives: every material figure carries a source reference. Written in your voice, issued under your name, with two revision rounds included.
Financial data book
Normalised P&L, adjusted EBITDA bridge, working capital and monthly trends, with a forecast that flexes on its inputs. Rebuilt from source records and reconciled to the filed accounts, so it holds when diligence arrives.
Buyer research
A hundred or more named acquirers, each with the rationale: why they fit, what they have bought, who to speak to. Drawn from a continuously maintained transaction graph, not a scrape. The list is yours. So is the outreach.
The pack. Instruct two or three together and the bundle is priced below the sum of its parts. Half on instruction, half on delivery.
Price a mandatePartner terms. On selected mandates we take a smaller fee up front and a share of your success fee instead. Same work, same standard, and we stay behind you: the client and every buyer conversation remain yours. By conversation, mandate by mandate.
Talk partner termsBuilt to survive diligence.
We start from the records, not a summary PDF.
Ledgers, returns, filed accounts. If the records are a mess, we say so before we quote, not after you have issued the document.
The data book agrees with the filed accounts.
Before a word of the IM is drafted on top of it. Buyers notice the difference in the first meeting, and diligence notices it in week one.
Every material figure is traced and graded.
Source references and confidence grades throughout. Nothing asserted that cannot be shown.
Machine speed, human accountability.
A named principal reviews every document before it leaves. Nothing is released without your sign-off, and nothing is shared without an NDA.
Production runs on our deal intelligence.
The same engine behind our deal map: more than 350 verified transactions and a maintained graph of acquirers and their appetites.
Deepest in education and training.
The production standard travels across sectors. Where our data does not, we tell you before you instruct us.
Priced like drafting, not like a mandate.
On a typical £5m enterprise value mandate, the advisory fee runs well into six figures. The materials that carry it cost a few percent of that.
We charge for production the way lawyers charge for drafting: fixed, quoted up front, with no success fee and no claim on your deal. Your mandate, your client, your upside.
Where we stop
We produce documents and research for the firm running the transaction, which issues them under its own name. We do not approach buyers, negotiate, or advise any party on the merits of a transaction. That is your job, and it is why your clients pay you.
Where a firm wants more than the documents, the same reading of filed accounts and public registers becomes an engine built for that firm.
Get the briefing.
The Thomsett Lockey read on education and training M&A. No noise.
Send us a deal.
Share the shape of the mandate in confidence: sector, rough size, what you need and when. A fixed quote comes back within one working day.