In every acquisition there are two sides — a seller and a buyer — and an adviser typically represents one of them. The distinction between sell-side and buy-side work shapes the entire mandate: the objectives, the process, and how success is measured.
Sell-side advisory
On the sell-side, the adviser represents the company or its shareholders. The goal is to maximise value and certainty of completion. That means preparing the business, positioning the equity story, identifying and approaching the right buyers, and running a competitive process that creates tension between bidders.
Buy-side advisory
On the buy-side, the adviser represents an acquirer looking to grow through acquisition. The work is different: defining acquisition criteria, mapping and approaching targets — often ones that are not for sale — assessing value, and structuring an offer that wins the deal without overpaying.
Why it matters to you
Knowing which side an adviser sits on tells you whose interests they serve. A good adviser is transparent about their role and never on both sides of the same transaction. Whether you are selling or acquiring, the right representation is one of the most important decisions in the process.