Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page. Disclosure number, please reference additional details in the Disclosures section at the bottom of this page.

Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation including, but not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (WTC) operating in Delaware only, Wilmington Trust, N.A. (WTNA), Wilmington Trust Investment Advisors, Inc. (WTIA), Wilmington Funds Management Corporation (WFMC), Wilmington Trust Asset Management, LLC (WTAM), and Wilmington Trust Investment Management, LLC (WTIM). Such services include trustee, custodial, agency, investment management, and other services. International corporate and institutional services are offered through M&T Bank Corporation’s international subsidiaries. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank. Member, FDIC.

M&T Bank Corporation’s European subsidiaries (Wilmington Trust (UK) Limited, Wilmington Trust (London) Limited, Wilmington Trust SP Services (London) Limited, Wilmington Trust SP Services (Dublin) Limited, Wilmington Trust SP Services (Frankfurt) GmbH and Wilmington Trust SAS) provide international corporate and institutional services.

WTIA, WFMC, WTAM, and WTIM are investment advisors registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply any level of skill or training. Additional Information about WTIA, WFMC, WTAM, and WTIM is also available on the SEC's website at adviserinfo.sec.gov.

Private Banking is the marketing name for an offering of M&T Bank deposit and loan products and services. Custom credit advisors are M&T Bank employees. Loans, retail and business deposits, and other personal and business banking services and products are offered by M&T Bank Equal Housing Lender. Bank NMLS #381076. Member FDIC.

M&T Bank

Equal Housing Lender. Bank NMLS #381076. Member FDIC.

Investment and Insurance Products • Are NOT Deposits • Are NOT FDIC Insured • Are NOT Insured By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value

Investing involves risks and you may incur a profit or a loss. Past performance cannot guarantee future results. This material is provided for informational purposes only and is not intended as an offer or solicitation for the sale of any security or service. It is not designed or intended to provide financial, tax, legal, accounting, or other professional advice since such advice always requires consideration of individual circumstances. There is no assurance that any investment, financial or estate planning strategy will be successful.

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10 Key Things to Know About Private M&A Deals and the Role of a Professional Shareholder Representative

July 9, 2025

1. Closing isn’t the finish line

While reaching a sale agreement is a huge achievement, the post-closing phase can be just as demanding. Sellers often overlook the administrative and legal responsibilities that continue long after a deal is signed.

2. Post-closing is time-intensive

The process can take 50-100 hours excluding any disputes

6–8 hrs: Initial agreement and compliance forms
6–8 hrs: Key date tracking and task outlining
8–10 hrs: Monthly reconciliations
50–60+ hrs: Ongoing post-closing tasks

3. A professional shareholder representative can help avoid costly errors and delays

Assigning these duties to a team member or investor can result in:

Missed deadlines
Legal liability
Conflicts of interest
Burnout and inefficiency

4. A professional shareholder representative oversees the deal execution

A professional shareholder representative handles all the details helping to confirm that deal terms are carried out, milestones are tracked, and shareholders are informed without burdening your management team or investors.

5. You can let them do the heavy lifting

From monitoring key dates to coordinating escrow disbursements, a professional shareholder representative helps manage:

Escrow and holdback allocations
Earnout tracking
Dispute resolution
Status updates for shareholders

6. Their skillset is broad and specialized

A seasoned professional shareholder representative has knowledge in:

GAAP accounting¹Disclosure number, please reference additional details in the Disclosures section at the bottom of this page.
Tax (income, sales, and use)¹Disclosure number, please reference additional details in the Disclosures section at the bottom of this page.
M&A deal structures
Contract law¹Disclosure number, please reference additional details in the Disclosures section at the bottom of this page.
Dispute resolution
Customer service and project management

7. They can give you more freedom

With a professional shareholder representative handling the post-closing process, you can focus on your next venture or enjoy the rewards of your hard work without being bogged down by administrative responsibilities.

8. Professional shareholder representatives offer the same service for less

In regards to simple tasks such as reviewing the terms of an agreement to coordinate an escrow release, attorneys and accountants hourly rates can range from $500 to over $1,000 per hour, while a professional shareholder representative typically charges a one-time fee under $30,000 for most transactions.

9. They are impartial and objective

Unlike internal stakeholders, professional shareholder representatives offer a neutral perspective. Their experience allows them to anticipate and mitigate issues before they escalate, helping to protect shareholder interests.

10. Hiring a professional shareholder representative can provide reassurance

Ultimately, hiring a professional shareholder representative can provide shareholders with a smooth transaction, protect shareholder value and help avoid costly errors and disputes.

Wilmington Trust is not authorized to and does not provide legal, accounting or tax advice.

Closing the deal is just the beginning.

Wilmington Trust M&A specialist to see that your shareholder interests are protected and the post-closing phase runs smoothly.²Disclosure number, please reference additional details in the Disclosures section at the bottom of this page.

This article is intended to provide general information only and is not intended to provide specific investment, legal, tax, or accounting advice for any individual. Before acting on any information included in this article you should consult with your professional adviser or attorney. Facts and views presented in this report have not been reviewed by, and may not reflect information known to, or the opinions of professionals in other business areas of Wilmington Trust or M&T Bank. M&T Bank and Wilmington Trust have established information barriers between their various business groups.

Disclosures:

Wilmington Trust is not authorized to and does not provide legal, accounting or tax advice.
This article is intended to provide general information only and is not intended to provide specific investment, legal, tax, or accounting advice for any individual. Before acting on any information included in this article you should consult with your professional adviser or attorney. Facts and views presented in this report have not been reviewed by, and may not reflect information known to, or the opinions of professionals in other business areas of Wilmington Trust or M&T Bank. M&T Bank and Wilmington Trust have established information barriers between their various business groups.

Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation including, but not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (WTC) operating in Delaware only, Wilmington Trust, N.A. (WTNA), Wilmington Trust Investment Advisors, Inc. (WTIA), Wilmington Funds Management Corporation (WFMC), Wilmington Trust Asset Management, LLC (WTAM), and Wilmington Trust Investment Management, LLC (WTIM). Such services include trustee, custodial, agency, investment management, and other services. International corporate and institutional services are offered through M&T Bank Corporation’s international subsidiaries. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank. Member, FDIC.
M&T Bank Corporation’s European subsidiaries (Wilmington Trust (UK) Limited, Wilmington Trust (London) Limited, Wilmington Trust SP Services (London) Limited, Wilmington Trust SP Services (Dublin) Limited, Wilmington Trust SP Services (Frankfurt) GmbH and Wilmington Trust SAS) provide international corporate and institutional services.
WTIA, WFMC, WTAM, and WTIM are investment advisors registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply any level of skill or training. Additional Information about WTIA, WFMC, WTAM, and WTIM is also available on the SEC's website at adviserinfo.sec.gov.
Private Banking is the marketing name for an offering of M&T Bank deposit and loan products and services. Custom credit advisors are M&T Bank employees. Loans, retail and business deposits, and other personal and business banking services and products are offered by M&T Bank Equal Housing Lender. Bank NMLS #381076. Member FDIC.
M&T Bank Equal Housing Lender. Bank NMLS #381076. Member FDIC.
Investment and Insurance Products • Are NOT Deposits • Are NOT FDIC Insured • Are NOT Insured By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value
Investing involves risks and you may incur a profit or a loss. Past performance cannot guarantee future results. This material is provided for informational purposes only and is not intended as an offer or solicitation for the sale of any security or service. It is not designed or intended to provide financial, tax, legal, accounting, or other professional advice since such advice always requires consideration of individual circumstances. There is no assurance that any investment, financial or estate planning strategy will be successful.

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