Meera Shah, senior manager in corporate finance at Buzzacott, tells Jo Russell about her journey from audit and the skills she has acquired to manage cross-border transactions

Why did you choose accountancy?

I studied economics at the University of Warwick and was very interested in a career in finance. Several people I knew had taken the ACA and recommended it as a starting point. I knew it would give me a highly reputable qualification, and the grounding and skills for a career in finance. Smith & Williamson appealed because of its mix of big and small firm culture. The firm is highly regarded – I knew I would get a solid training experience and exposure to clients from day one. The people who interviewed me seemed like great people to work with and it felt like the type of environment I would enjoy. I joined in 2012. 

When did you begin working on transactions?

While in audit, I had worked with Smith & Williamson’s transaction services and M&A team. They were starting to grow quite rapidly. After I qualified and was at manager level, I asked to move across. I joined the transaction services team and worked predominantly on valuations to support transactions, either from a tax accounting or more commercial perspective, establishing indications of value on which to base an offer. It was the first time I got to work on growing a team, in terms of looking at what type of expertise we should hire and what sort of work we should be looking to do.

What lessons did your early transactions work teach you?

There are theories and methods for valuation, but at the end of the day the deal will happen at the price that someone’s willing to pay. A buyer is willing to look beyond the numbers and see value in synergies or the brand. Today, I don’t just look at revenue and profit – from a strategic point of view, I look at other non-financial synergies.

My exposure to transactions made me want greater M&A involvement and a focus on lead advisory work. I was approached by Buzzacott, where the corporate finance team was only three years old. It was an opportunity for more M&A experience and to build a team alongside corporate finance partner Matt Katz in a firm that really encourages entrepreneurship. I joined in 2018.

What is your role now?

Last year, I was promoted from manager to senior manager in corporate finance. My work is mostly M&A on the sell side of transactions in the £10m-£100m range. I also help clients looking to raise money. Private equity transactions can be more complex and bring a different dynamic with an investor building a business with management, which I enjoy. My job is as much about financial analysis and modelling as it is about having conversations, understanding people, and managing relationships and expectations across the board. It takes that little bit more skill and finesse to deal with negotiations when fragile feelings are in the room and stress levels are high. The pandemic has obviously made it harder to have that in-person contact. With video calls, in some respects, there is greater exposure. 

Any recent memorable transactions?

One of my most memorable deals was one of my first at Buzzacott, in 2018. I was working on the buy side for Underground Vaults & Storage, a US company that acquired DH Media Solutions, a storage and logistics business in the UK. 

What made the deal really interesting was the overseas element. There are nuances between the way parties in the US and UK approach transactions and a crucial aspect of my role was bridging that gap. The transaction also involved some deal-critical advice on the working capital negotiations, which helped us ensure a successful conclusion. I was really pleased to be able to close a deal so soon after joining Buzzacott.

What are your future plans?

The Buzzacott team is growing rapidly and I plan to continue to be a key part of that growth. Today we are 13, and as a team we have aspirations to double that, to enable us to focus in depth on more services and sectors. I’m particularly keen to keep encouraging women into M&A, either consciously or subconsciously, just by my presence in the market and through my networks. One day, it might be interesting to move into industry, working on strategy in-house for a client, to see things from a different angle.

About this article

This is taken from the Corporate Financier February 2021 edition - exclusively for Corporate Finance Faculty & Faculties Online members - who can access our highly respected magazine in its originally designed form, and our extensive archive brought to you by the ICAEW Corporate Finance Faculty.