Skip to content
abstract yellow stripes
abstract yellow stripes

Transaction Support Unit

Allen & Overy is a pioneer in many disciplines which enables us to structure better and more flexible offers for our clients. This maxim was also the decisive factor in creating the Transaction Support Unit (TSU), ie a concept which is not reliant on volume but contributes our high-quality advice by effectively facilitating workflows.

The TSU is a unit comprising lawyers and, specifically, commercial law specialists who are closely integrated in their teams in the various practice areas and provide support with day-to-day legal work. In this context, the Transaction Officers and Transaction Lawyers not only meet the high standards demanded from legal advisers at Allen & Overy, but they also receive specialist training enabling them to identify and assess workflows and to deploy legal tech solutions and project management skills in order to optimise the processes they underlie.

A powerful, integrated team

By acting as an interface between legal advice and technology, the TSU embodies our “seamless service” approach like no other team.

 

A key benefit of the TSU is its interdisciplinary approach and implementation which combines specialist legal knowledge, technology and processes. Our Transaction Officers and Transaction Lawyers are extremely versatile and very quick to familiarise themselves with new working environments. Savings are generated by having familiarity with the legal requirements of the project and the underlying processes and workflows, as well as the ability to facilitate and accelerate work in a targeted and structured manner.

The TSU acts as an enabler for very large transactions as well as litigation and investigation projects – with legal tech and project management in particular, the TSU allows us to deliver quick, efficient, and targeted results.

Wolf Bussian, Managing Partner - Litigation/Frankfurt

Your questions - our answers

Can a TSU member serve as an interface to the legal operations department?

Can a TSU member serve as an interface to the legal operations department?

This is one of the TSU's core strengths; Transaction Officers and Transaction Lawyers are well prepared for this role.

How high are the actual cost savings generated by deploying the TSU?

How high are the actual cost savings generated by deploying the TSU?

Deploying the TSU generates savings of 25%-30% on average. The savings are the result of lower hourly rates, combined with the routine deployment of legal tech tools and efficient project management.

What savings are generated in terms of resources?

What savings are generated in terms of resources?

Savings in terms of resources are generated as a result of process know-how, the deployment of complementary specialised teams (eg the LSC or the PMO) and the use of software.

Does the TSU work with all practice groups or are there exceptions?

Does the TSU work with all practice groups or are there exceptions?

Naturally, the TSU is particularly well represented and integrated in the field of Corporate/M&A. But at Allen & Overy this also applies to the Real Estate, Antitrust, Banking, International Capital Markets (ICM) and Equity Capital Markets (ECM) teams, as well as the Public Law practice group. We intend to include other practice groups such as Tax in the near future.

What are the core competencies of Transaction Officers / Transaction Lawyers?

What are the core competencies of Transaction Officers / Transaction Lawyers?

In terms of legal fields, the core competencies are, inter alia, corporate law, (distressed) M&A, carve-out and joint venture transactions, auction processes, private equity transactions and public takeovers, stock corporation law, securities law, and also the preparation of annual meetings, IPOs, corporate financing, restructurings, reorganisations, real estate law (and related transactions), public law, insolvency proceedings, antitrust and competition law, and the management of mass actions. In addition, Transaction Officers and Transaction Lawyers deal with technology-related issues such as deal and case management solutions, data extraction, document review, document automation, e-signing, project management platforms as well as process and workflow optimisation solutions.

What form does cooperation with the lawyers in the individual practice groups take?

What form does cooperation with the lawyers in the individual practice groups take?

By acting as an interface between legal advice and technology, the TSU embodies our “seamless service” approach like no other team. Cooperation works best if the team is involved in the project right from the start, with clearly designated areas of responsibility and reporting lines. 

Which tasks are most suitable for involving the TSU?

Which tasks are most suitable for involving the TSU?

TSU members are assigned organisation tasks in process-driven projects and (sub-)processes that require a high level of coordination or even the application of appropriate legal tech tools. For large volumes of documentation the TSU further serves as an interface to colleagues in our Legal Services Centre in Belfast to reasonably allocate work. Depending on their seniority and experience, team members’ tasks may also include preparing and reviewing (contractual) documentation, assuming the role of central contact for all parties, dealing with authorities or assuming the entire project management.

Are Transaction Lawyers and Transaction Officers included in working processes?

Are Transaction Lawyers and Transaction Officers included in working processes?

Transaction Officers and Transaction Lawyers are included in the matter from the beginning, ideally from as early as the pitch stage. They are familiar with both the administrative background of the matter (eg engagement letter and accounting requirements) and the process status, and have a good overview of all parties (internal/external, and also those at an international level).

Does the TSU work with the Legal Services Centre (LSC)?

Does the TSU work with the Legal Services Centre (LSC)?

Yes! The work of the LSC in Belfast significantly overlaps with the work of the TSU. There are differences in terms of their primary focus (the TSU focuses primarily on specific legal fields), jurisdiction (the TSU focuses exclusively on German law), their respective size (the TSU is considerably smaller) and their ways of working (the TSU pursues a holistic approach).

How can workflows be structured more efficiently?

How can workflows be structured more efficiently?

With clear project planning from an early stage and by regularly reviewing the project plan on the basis of the following parameters: costs, time and resources.

Which project management methods does the TSU apply?

Which project management methods does the TSU apply?

Agile working, Kanban-Boards

Can the TSU do legal tech?

Can the TSU do legal tech?

Yes, knowledge of the functionality and possible applications of legal tech tools is just as strong as legal and process knowledge.

What legal tech topics does the TSU deal with?

What legal tech topics does the TSU deal with?

The services include data extraction, document review, document automation, e-signing, project management platforms, blockchain and process optimisation solutions.

How closely is the TSU involved in Allen & Overy's advisory practice?

How closely is the TSU involved in Allen & Overy's advisory practice?

The TSU is currently involved in more than 100 different projects and 80 different types of projects.

Do Transaction Officers and Transaction Lawyers speak English?

Do Transaction Officers and Transaction Lawyers speak English?

All Transaction Officers and Transaction Lawyers speak English very well and are business fluent.

The TSU in action

Case study 1

Challenge: Formation of a joint venture, which spanned 25 countries in Europe, Africa, Asia and the Americas, with a focus on further geographic expansion and a planned multi-million investment in future-orientated digital services.

Our solution

Solution:

With the support provided by the TSU team, the workflows between the numerous jurisdictions were managed smoothly under extreme time pressure. The TSU took over the revision of material agreements in the context of due diligence, pre-sorting the numerous agreements and preparing reports using the various Allen & Overy review tools, as well as preparing the annexes, coordination of the cross-border closings and post-closing measures.

Case study 2

Challenge: Support in the preparation of a legal vendor due diligence report in the framework of a secondary sale by way of a cross-border controlled auction process.

Our solution

Solution:

With the involvement of the TSU, our German team was able to demonstrate their strength in the handling of international engagements; a Senior Transaction Officer acted as interface between offices abroad and in Germany to ensure complete and up-to-date exchange of information and work results at all time. For Germany, the TSU took over the gathering of facts from notaries and land registries, the preparation of these facts for the legal vendor due diligence report and, based on this know-how, the supporting and handling of the subsequent Q&A sessions.

Case study 3

Challenge: Advising one of the largest transactions in the cruise business in which a luxury cruise business was contributed into a 50:50 joint venture between two of the renowned players in the market, valued at over EUR 1 billion.

Our solution

Solution:

Due to consistent and efficient collaboration within the project team, the Transaction Support Unit could be integrated seamlessly from as early as the due diligence until the closing of the transaction and was able to align its distinct project management workflows to those of our lawyers.

Solution:

With the support provided by the TSU team, the workflows between the numerous jurisdictions were managed smoothly under extreme time pressure. The TSU took over the revision of material agreements in the context of due diligence, pre-sorting the numerous agreements and preparing reports using the various Allen & Overy review tools, as well as preparing the annexes, coordination of the cross-border closings and post-closing measures.

Solution:

With the involvement of the TSU, our German team was able to demonstrate their strength in the handling of international engagements; a Senior Transaction Officer acted as interface between offices abroad and in Germany to ensure complete and up-to-date exchange of information and work results at all time. For Germany, the TSU took over the gathering of facts from notaries and land registries, the preparation of these facts for the legal vendor due diligence report and, based on this know-how, the supporting and handling of the subsequent Q&A sessions.

Solution:

Due to consistent and efficient collaboration within the project team, the Transaction Support Unit could be integrated seamlessly from as early as the due diligence until the closing of the transaction and was able to align its distinct project management workflows to those of our lawyers.

Case study 4

Challenge: Sale of a huge portfolio consisting of, in total, 49 office, residential and retail properties with a total rental space of over 352,000 square metres in premium locations in Germany.

Our solution

Solution:

The TSU was in charge of the development of a public law-orientated overview, which was updated on a daily basis and which contained information on undisclosed due diligence documents, revised issues, results of legal research topics and deductions regarding respective open issues. A Transaction Officer streamlined the workflows and saved valuable time, which otherwise would have been invested in tedious data room searches, and further took over the handling of all requests to and communication with all public authorities.

Case study 5

Challenge: Sale of a food processing company by way of a cross-border auction process.

Our solution

Solution:

The Transaction Support Unit was appointed to support the SPA drafting and signing processes within the deal which encompassed in particular the preparation and final revision of the annexes and the preparation of the deed of reference. For the revision of mark-ups, the TSU applied comparison tools, which noticeably accelerated the process. In preparation of the signing, the TSU was responsible for drafting various side agreements in connection with the prior carve-out and for regular corporate housekeeping documentation.

Solution:

The TSU was in charge of the development of a public law-orientated overview, which was updated on a daily basis and which contained information on undisclosed due diligence documents, revised issues, results of legal research topics and deductions regarding respective open issues. A Transaction Officer streamlined the workflows and saved valuable time, which otherwise would have been invested in tedious data room searches, and further took over the handling of all requests to and communication with all public authorities.

Solution:

The Transaction Support Unit was appointed to support the SPA drafting and signing processes within the deal which encompassed in particular the preparation and final revision of the annexes and the preparation of the deed of reference. For the revision of mark-ups, the TSU applied comparison tools, which noticeably accelerated the process. In preparation of the signing, the TSU was responsible for drafting various side agreements in connection with the prior carve-out and for regular corporate housekeeping documentation.

The TSU is my first choice for our clients when it comes to delivering Allen & Overy’s high quality advice on a tight budget.

Markus Käpplinger, Partner - Corporate/Frankfurt

 

A selection of our benefits

The TSU offers additional resources when time is of the essence and administrates our legal tech solutions which play an ever increasing role, especially in cross-border cases. We could not achieve the same resourcefulness and efficiency for our clients if we could not count on the TSU’s assistance...

Ellen Braun, Partner - Antitrust/Hamburg

 

Facts and Figures

Work for us

A&O people

Join the TSU team

The TSU is an exciting, fast-paced and challenging workplace in which you will have the opportunity to strengthen your tech and project management skills and work on complex business law matters across a wide range of practices and jurisdictions.

Downloads

eSigning

E-signing according to German law


Digitalisation in companies involves changes in work processes and a search for more efficient solutions for daily business. Signing documents using an electronic signature has already become common practice in many organisations. In order to facilitate smooth running of this process in terms of organisation and, most importantly, to ensure full legal compliance, please download our how-to-guide on e-signing in German legal transactions.

Read more
TSU Brochure

Transaction Support Unit Germany


Who we are - what we do - how we can support:

Download our brochure now to find out more about the TSU's key competencies and benefits.

Read more