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Mergers.co.uk
Sell-side advisory only

Partial saleand strategic exit advicefor UK business owners

Not every founder wants a clean break. Many want to release value, reduce personal risk or bring in a strategic partner without walking away from the business they built.

£2m to £25m turnover
20+ years advising UK founders
Sell-side only
Confidential & selective
UK-wide

What a partial sale means

A partial sale means selling part of your shareholding while staying involved in the business. You may retain control, continue as managing director, bring in a trade partner, or plan a second exit later.

For the right business, a partial business sale can be a better route than either a full disposal or doing nothing.

You do not always need to sell 100% to realise value.
Read the full explanation

Why founders consider this route

Most founders do not begin with a neatly labelled transaction in mind. They begin with pressure, uncertainty and a sense that the usual choices do not quite fit.

Personal wealth is tied up in one illiquid asset

Growth is possible, but more support or capital is needed

Retirement is approaching, but not yet

A full sale feels premature, but standing still is not ideal

We help founders think clearly about the middle ground: partial sales, strategic partner deals, staged exits and, where appropriate, full sales handled properly. The aim is to identify the route that fits, not to force a structure.

Common founder crossroads Is a partial sale right for you?

Your deal options

Many of the transactions we advise on allow the founder to remain involved. The question is how much to sell, to whom, and on what terms.

Why some founders prefer a partial sale over a full exit

A partial business sale can help a founder release value, reduce risk and stay involved, rather than choosing between a full exit and doing nothing.

Personal financial security

Release meaningful capital now and reduce the concentration of your wealth in one illiquid asset.

A share of future upside

Retain equity and participate in the value created after the deal.

A stronger business

The right partner brings customers, infrastructure, expertise or scale that would take years to build alone.

Control on the right terms

Minority sales can preserve operational control. Majority deals can still protect your executive role and governance rights.

Managed succession

Step back gradually with support, rather than forcing a sudden handover.

Timing that suits you

A partial sale can work around your timetable instead of forcing a full departure.

Who we work best with

Likely a good fit

  • You own or co-own a UK business with £2m to £25m turnover
  • You want to release value but stay involved
  • You are considering a trade buyer, strategic partner or growth investor
  • You want honest, sell-side-only advice on your options
  • You want a structured and confidential process

Probably not the right fit

  • You want a simple full disposal with no ongoing involvement and no need for wider strategic advice
  • You want buyer-side representation
  • The business is very early stage or pre-revenue
  • You are not open to sharing ownership or governance

Why founders choose Mergers.co.uk

Exclusively sell-side

We act for business owners only. We never represent buyers, investors or incoming partners.

Partial sale specialists

Partial trade sales are a specialism. We aim for the right strategic fit, not just any deal.

Honest view of value

We give founders a realistic view of value, not an inflated number to win an instruction.

Discreet and selective

Every approach is carefully targeted and fully confidential. No broad market trawls.

Strategic fit before volume

We focus on the right buyer or partner, not a broad process for the sake of activity.

In person or remote

We advise founders across the UK. Initial discussions can be held face to face or by video.

We do not push every owner towards a partial sale. Where a full sale is the better answer, we say so.

Tony Vaughan, founder of Mergers

Led by Tony Vaughan

Mergers.co.uk is a specialist sell-side advisory firm led by Tony Vaughan, an experienced UK M&A adviser to business owners. The firm advises founders on partial sales, strategic partner deals, staged exits and full sales, always with a focus on strategic fit, confidentiality and clear commercial judgement.

With more than 20 years advising UK founders and experience across over 150 completed deals, Mergers.co.uk combines founder-led advice with broader advisory support for SME business owners across the UK.

Sell-side only · Founder focused · UK-wide

Meet Tony Vaughan About Mergers.co.uk

How the process works

Structured, confidential and tailored to the owner, sector and objectives.

01

Initial confidential discussion

We listen, understand your objectives and assess whether we can help.

02

Strategic fit review

We evaluate the business, sector dynamics and potential deal structures.

03

Deal route recommendation

We present a clear recommendation on the best route for you.

04

Preparation and positioning

We prepare materials that position the business for the right audience.

05

Selective market approach

We approach a carefully chosen shortlist of relevant buyers, partners or investors, as appropriate.

06

Negotiation and completion

We manage the process through to completion on the best terms.

Example outcomes

The examples below are anonymised and simplified to illustrate the sort of structures we advise on.

Professional services£6m turnover

30% minority stake sold to a trade partner

Founder released capital, retained operational control and gained access to a wider client base.

Manufacturing£14m turnover

65% majority sale to private equity

Founder took significant cash off the table and stayed in as managing director with rollover equity.

Technology£4.5m ARR

Two-stage exit with a growth partner

Founder sold part at stage one, remained as chief executive and exited later at a higher valuation.

Healthcare£9m turnover

25% minority stake to a patient investor

Founder reduced personal exposure and began a structured succession plan.

UK M&A Market: 2026 Deal Activity Benchmarks

Indicative ranges for UK SME sell-side transactions across the lower mid-market in 2026. Actual outcomes vary materially by sector, earnings quality and process design.

Source: VEXUS Advisory Group, 2026
Deal SizeEBITDA MultipleTime to CompleteBuyer Type
Up to £2m3–5x3–6 monthsTrade buyer or MBO
£2m – £5m4–6x4–8 monthsPrivate equity or trade
£5m – £15m5–8x6–12 monthsPE strategic
£15m – £50m6–10x9–18 monthsPE-backed consolidator
Over £50m8–14x12–24 monthsCorporate or PE exit

Source: VEXUS Advisory Group, 2026. Figures are illustrative ranges drawn from sell-side observations across UK SME mandates, not a forecast or valuation. We work alongside your tax and legal advisers and do not provide tax, legal or investment advice.

Frequently asked questions

Yes. A partial business sale, typically between 20% and 70% of your equity, allows you to release capital and bring in a strategic partner or investor while remaining active in the business. It is one of the most common structures Tony Vaughan advises on for UK SME founders.

A two-stage exit involves selling a majority stake now, typically between 51% and 80%, to a buyer who funds the next phase of growth. The founder then sells the remaining equity later at a higher valuation. The result is two paydays and continued involvement through the growth phase.

A typical partial business sale for a UK SME takes between 4 and 9 months from preparation to legal completion. The sell-side process covers valuation, preparation of the information memorandum, buyer identification, negotiation of heads of terms, and legal due diligence.

Yes. In a minority stake sale, typically between 10% and 49% of equity, the founder retains full operational control and majority voting rights. The incoming investor takes a non-controlling position, often with agreed board representation and protections, but without the ability to override the founder on day-to-day decisions.

The most active buyers in the UK SME market are private equity firms seeking platform or bolt-on acquisitions, trade buyers looking for strategic fit, and management buyout teams. For businesses with £2m to £25m turnover, private equity and growth-focused trade buyers currently lead deal flow.

No. Mergers is a strictly sell-side advisory firm. We only act for UK business owners and founders. We never represent buyers, investors or incoming partners, which removes any conflict of interest and keeps the process aligned to the founder's outcome.

Mergers focuses on UK SMEs with turnover between £2m and £25m, typically with sustainable profits and a credible growth story. Businesses in this range are well suited to private equity, strategic trade partners and staged exit structures. If you are unsure, a confidential discussion will quickly establish fit.

Yes. Mergers advises founders nationwide, across England, Scotland, Wales and Northern Ireland. The advisory process is run remotely with secure document exchange and video meetings, supplemented by in-person meetings where appropriate. Sector experience spans services, technology, healthcare, manufacturing and consumer businesses. To explore fit, please arrange a confidential discussion.

Latest insights

Partial Sale Explained

How partial sales work for UK SME founders

Read more

Minority Stake Sale Guide

Sell up to 49% and keep control

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Majority Sale and Stay In

Take cash while staying involved

Read more

Two-Stage Exit Guide

Sell now, exit fully later

Read more

Strategic Partner vs Full Sale

Why a partner can beat a disposal

Read more

Full Sale vs Partial Sale

Compare exit structures side by side

Read more
View all insights
Brand

Why Mergers.co.uk?

Because clarity matters.

Mergers.co.uk is not a vague brand name or a marketing invention. It is direct, credible and says exactly what we do.

We believe that matters in M&A, where trust, judgement and clear communication are essential. Our name reflects the way we work. Straightforward, commercially focused and to the point.

In a market where many firms hide behind generic branding and unnecessary jargon, Mergers.co.uk signals something different. It shows clarity, commitment and confidence in the service we provide.

This is not about style over substance. It is about presenting a serious advisory proposition under a name that is memorable, authoritative and aligned with the work itself.

"A name that says exactly what we do, and reflects how we do it."

Confidential & no obligation

Considering a partial sale, strategic partner or full exit?

If you are considering a partial sale, strategic partner deal or full exit, start with a confidential discussion. We will give you a clear and commercially honest view of the options and whether this route is right for you.

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