A monthly retainer during the engagement and a completion fee tied to the outcome. Both are agreed in writing before we start, and the retainer is credited against the completion fee.

How small is too small?

We work with businesses turning over roughly £2m to £50m. Below that a broker is usually better value, and we will say so.

Will you tell me not to sell?

Regularly. A business that is two years from being ready will get a materially worse price now, and the first conversation is where that gets said.

Welcome

Clear Counsel at the Decisions That Matter

We work with owner-managed businesses through a sale, a raise, or a restructure — the decisions a management team only makes once.

Arrange a consultation

Selling a business Raising investment Turnaround and restructuring

About

Calderwoodworkswithbusinessesataninflectionpoint—themomentwhenwhatgotyouherewillnotgetyouthere,whenthenumberssayonethingandthemarketsaysanother,andwhenthedecisioninfrontofyouisoneyouwillonlymakeonce.Weareasmallteamofpeoplewhohavesatonyoursideofthetable,andwestayuntiltheworkisfinished.

Completed engagements

£40m

Aggregate deal value

Years in practice

Figures are illustrative — Calderwood is a demonstration practice.

Expertise

The work we are actually good at

Three situations, each with a different clock. We take on the ones where the decision is reversible only at great cost.

Sale and succession

Preparing an owner-managed business for sale, and running the process.

Growth capital

Raising debt or equity without giving away the business.

Turnaround

Stabilising cash, then rebuilding the operating model.

Approach

The firm that works differently

We embed with your team, take ownership of the outcome, and measure success by results rather than deliverables.

How we work

Everyone on the team has run a business, not only advised one. That changes which questions get asked first.

We work through implementation with your team, adjust as we learn, and stay accountable for the outcome rather than the deliverable.

Fees are tied to what actually happens. If the transaction does not complete, we do not pretend the advice was the product.

Marsden Foods

3.1x

Return on invested capital

“They arrived when we were staring at a refinancing we did not understand. They moved quickly, made the difficult calls with us rather than for us, and left the finance function stronger than they found it.”

Managing director, manufacturing client

Illustrative — Calderwood is a demonstration practice.