• Completion Advisory

SPA & Completion Accounts Advisory

Closing the Gap Between Agreement and Completion

Specialist financial advice during the final stages of a transaction to ensure financial mechanics are clearly defined and correctly implemented. We work alongside legal advisors and transaction teams to ensure completion terms protect our clients’ financial interests.
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20+

Years of experience

Trusted by 250+

Tech & Telecoms Leaders

  • Maximise value

Our Specialized Input

SPA Financial Mechanics
We review and provide input on financial definitions, including Locked Box structures, Net Debt, and leakage provisions.
Working Capital Targets
We ensure targets reflect the true normalized position of the business, accounting for sector-specific seasonality.
Completion Accounts
Whether preparing or reviewing accounts on behalf of a buyer or seller, we assess compliance with agreed SPA mechanics with surgical precision
  • Maximise value

Key Features

SPA Financial Input

We advise on financial definitions and mechanisms within the Sale and Purchase Agreement, including working capital, net debt, and adjustment structures.

Completion Accounts Advisory

Our team supports the preparation or review of completion accounts to ensure calculations align with the agreed transaction terms.

Financial Dispute Support

Where required, we provide analytical support during discussions or disputes relating to financial adjustments.

Scenario Analysis via EC Analytics

EC Analytics can be used to model completion scenarios and analyse financial outcomes under different assumptions.

  • Vendor Support

Outcomes for Clients

Clients working with Evolution Capital’s Transaction Services team benefit from:
  • Greater confidence in transaction decisions
  • Clear understanding of financial risks and opportunities
  • Improved negotiation positioning
  • Faster internal decision-making through data-driven insight
  • Reduced risk of post-transaction surprises
  • Our Process

The Process: Securing the
Final Value

Stage 1

Scoping & Engagement

We review draft SPA or completion account provisions to agree on the scope of advisory input.

Stage 2

SPA Financial Review

We provide detailed commentary on financial definitions and mechanics alongside your legal advisors.

Stage 3

Accounts Preparation/Review

We assess compliance with agreed SPA mechanics and analyze adjustments.

Stage 4

Negotiation Support

We lead the push on commercial terms and support you through any formal dispute resolution processes
  • Maximise value

Operational Engagement

Typical Timeline

SPA input usually spans 1 to 2 weeks during negotiation; completion accounts typically run 2 to 4 weeks post-completion.

Engagement Structure

Can be a standalone service or a natural extension of an existing FDD mandate

Value Addition

Our sector expertise ensures recurring revenue treatment and working capital patterns are correctly handled at the point of exit

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Connect with Our M&A Advisor Team

Whether you’re exploring a sale, planning an acquisition, or simply want expert guidance, our team is here to help. Get in touch to discuss your goals in confidence.

  • Request a Confidential Consultation

Discover Your Business Value

Start with a strategic assessment to understand your maximum potential valuation in the current market.

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