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Case study: Shieldpay for M&A

UK top 20 law firm case study

Streamlining a £1bn M&A deal

October 2023

Deal overview

Acquisition of an independent insurance company

High value: £340 million cash and £660 million equity

High volume: 418 payees involved

Cross-border: Spanned multiple jurisdictions and required FX for payouts in 7 different currencies


International payee management and compliance risk

  • Due diligence burden: KYC (Know Your Customer) of all the payees compliance was a non-billable task for the legal firm and would have been exceptionally time-consuming given the complexity of the deal.
  • Risk in payment handling: Managing payments to 406 payees was a significant risk, requiring reliance on in-house client account functions and finance teams, which involved highly manual and long drawn-out processes.
  • FX challenges: The law firm lacked foreign exchange capabilities, making currency conversion for international payees highly costly and complex.

Automated processes and global disbursement

  • Payee outreach: Shieldpay initiated communication with payees to explain the process and the required actions from all stakeholders, effectively managing a high volume of correspondence to coordinate transactions involving hundreds of parties.
  • Efficient data collection: Required personal data from stakeholders was collected through online forms, ensuring ease and convenience, with all data stored in a centralised location. Leveraging Shieldpay's Verify offering, all KYC checks for the 406 contracted payees were conducted by Shieldpay.
  • Funds management: The payments provider received funds from three different parties and disbursed the funds to all payees within a specified timeframe.
  • Currency choice: Payees were offered the option to receive payout in their preferred currencies, thanks to a strong partnership with an FX provider offering highly competitive FX rates.

A supercharged payment experience

  • Time and cost savings: The law firm saved hundreds of hours of administrative time, allowing its legal teams to focus on higher-value, billable legal work.
  • Enhanced communication: Shieldpay created a dedicated channel for handling payee inquiries to streamlined the process. This supported the law firm's efficiency and provided a more responsive and centralised communication platform, ultimately enhancing the client experience.
  • Streamlined payment journey: By partnering with a technology-enabled solution, the client benefited from a streamlined payment process, reducing the complexities associated with a large, multi-currency transaction.
  • Efficient payout: The deal's payout was seamless and fast, despite its complexity, ensuring that all parties received their funds within the agreed-upon timeframe.

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