Buying a business is one of the highest-stakes decisions you will make. Our Deerfield business acquisition lawyers bring 15+ years of transaction experience and personal Managing Partner involvement to every deal, guiding buyers through acquisitions across Pharmaceuticals, Healthcare, Finance with the strategic precision and speed your timeline demands.
Corporate development teams pursuing strategic acquisitions
Independent sponsors and fundless sponsors closing deals
Entrepreneurs acquiring businesses through SBA-financed transactions
See If Your Deal Is a Fit
Tell us what you are working on. We respond within one business day.
Submission Received
Your transaction details are under review. If there is alignment, we will be in touch.
Meanwhile, feel free to call us directly at (248) 266-2790
Our Process
A structured, methodical approach to business acquisition law
1
Deal Assessment
We review the target business, your acquisition goals, and the proposed deal terms to develop a strategic game plan tailored to your specific situation.
2
Due Diligence
Managing Partner Alex Lubyansky leads a thorough investigation of the target's contracts, liabilities, intellectual property, and regulatory standing to surface risks before you commit.
3
Deal Structuring & Negotiation
We structure the transaction to optimize risk allocation and negotiate purchase agreements, employment agreements, and ancillary documents that protect your interests.
4
Closing Coordination
We manage the closing checklist, coordinate with lenders and third parties, and ensure every condition is satisfied so your deal closes on schedule.
5
Post-Closing Support
After the deal closes, we assist with purchase price adjustments, earnout calculations, transition matters, and any post-closing disputes that arise.
We don't take every matter. Here is what happens when you reach out.
1
Personal Review (Within 24 Hours)
Alex reviews your transaction details personally. No intake coordinators, no junior associates screening your submission.
2
Fit Assessment
We evaluate whether your deal aligns with our practice. Not every matter is a fit, and we will tell you directly if it is not.
3
Initial Conversation
If there is alignment, Alex schedules a direct call to discuss your transaction, timeline, and objectives.
4
Clear Engagement Terms
Before any work begins, you receive a written engagement letter with defined scope, timeline, and fee structure. No surprises.
Request Your Deerfield Engagement Assessment
Alex Lubyansky handles every business acquisition law engagement personally.
15+ years of M&A experience. Nationwide. One attorney on every deal.
Request Engagement Assessment
We review every transaction inquiry within one business day.
Submission Received
Your transaction details are under review. If there is alignment, we will be in touch.
Meanwhile, feel free to call us directly at (248) 266-2790
Questions to Ask Any M&A Attorney Before Hiring
Use these before you call any firm, including ours.
1. "Who will actually handle my transaction?"
At many firms, a partner sells the work and a junior associate does it. Ask for the name of the attorney who will draft and negotiate your documents.
2. "How many M&A transactions has the lead attorney closed in the past 12 months?"
Volume indicates current, active deal experience, not just credentials from years ago.
3. "What is your experience with my deal size and industry?"
A $500K SBA acquisition and a $50M PE deal require different skill sets. Make sure the attorney has handled transactions similar to yours.
4. "Will you coordinate with my CPA, financial advisor, and broker?"
M&A transactions require a team. Your attorney should work with your other advisors, not in a silo.
5. "How do you handle post-closing disputes?"
Reps, warranties, and indemnification claims surface months after closing. Ask whether the firm handles post-closing litigation or refers it out.
6. "What is your fee structure, and what drives cost?"
Hourly, flat fee, or hybrid. Ask what factors increase legal costs so there are no surprises.
Frequently Asked Questions
Common questions from Deerfield clients
What does a business acquisition lawyer do?
A business acquisition lawyer guides you through every stage of purchasing a company, from initial due diligence and deal structuring through contract negotiation and closing. At Acquisition Stars, Managing Partner Alex Lubyansky is personally involved in every deal, bringing 15+ years of M&A experience to protect your interests and keep your acquisition on track.
When should I hire a lawyer for buying a business?
Engage a business acquisition lawyer before you sign a letter of intent. Early involvement allows us to shape deal terms in your favor, identify red flags during due diligence, and avoid costly mistakes that become much harder to fix once you are deep into negotiations.
What is the difference between an asset purchase and a stock purchase?
In an asset purchase, you select specific assets and liabilities to acquire, which gives you more control over what you take on. In a stock purchase, you buy the entity itself, including all of its obligations. Each structure carries different tax, liability, and operational implications, and the right choice depends on your specific deal.
How long does it take to close on a business acquisition?
Most middle-market business acquisitions close within 60 to 120 days from signing a letter of intent. Timelines vary based on due diligence complexity, financing requirements, and regulatory approvals. Acquisition Stars is built for speed, and we work to eliminate unnecessary delays that put deals at risk.
How is Acquisition Stars different from other M&A firms?
Managing Partner Alex Lubyansky is personally involved in every deal, not a junior associate. You get extensive M&A experience with the personal attention and responsiveness of a boutique firm. We move at the speed your deal requires because we understand that in acquisitions, timing is everything.
How do Illinois non-compete laws affect business acquisition law transactions?
Restricted by the Illinois Freedom to Work Act (effective January 1, 2022). Non-compete agreements are prohibited for employees earning $75,000 or less annually (threshold increases by $5,000 every five years). Non-solicitation agreements are prohibited for employees earning $45,000 or less. Employers must advise employees to consult an attorney before signing, with a 14-day review period. The sale-of-business exception is preserved.
What are the Illinois tax considerations for buying a business?
Illinois imposes a flat 7% corporate income tax (including the 2.5% Personal Property Tax Replacement Income Tax). The state uses single-factor sales apportionment. Illinois does not allow combined reporting, which can be advantageous or disadvantageous depending on the target's entity structure. The state conforms to most federal treatment of acquisitions.
Does Illinois have a bulk sales law that affects business acquisitions?
Illinois has repealed UCC Article 6 (Bulk Sales). However, the Illinois Department of Revenue can impose successor liability on asset purchasers for the seller's unpaid sales, use, and withholding taxes under 35 ILCS 120/5j. Buyers must obtain a tax clearance letter (Form ST-4) before closing.
What can I expect during an initial consultation in Deerfield?
During your confidential initial consultation in Deerfield, we'll discuss your business acquisition law needs, review your current situation, assess potential challenges specific to Illinois, and outline a clear path forward. We'll explain our process, answer your questions, and determine if we're the right fit for your needs.
Do you work with companies outside of Deerfield?
Yes, we represent clients nationwide while maintaining a strong presence in Deerfield. Our managing partner handles business acquisition law matters across all 50 states, coordinating with local counsel where state-specific requirements apply.
Need Specific Guidance?
Submit your transaction details for a preliminary assessment by our managing partner
Submit transaction details and Alex will respond directly.
Submission Received
Your transaction details are under review. If there is alignment, we will be in touch.
Meanwhile, feel free to call us directly at (248) 266-2790
M&A Market: Deerfield & the Chicago Metro
Chicago is the Midwest's M&A powerhouse, with deep deal activity in manufacturing, food & beverage, financial services, and healthcare. The city's central location and transportation infrastructure make it a hub for logistics and distribution company acquisitions. Chicago's robust private equity community - including firms like GTCR, Madison Dearborn, and Duchossois Capital - drives significant lower middle-market deal flow.
Top M&A Sectors Near Deerfield
Manufacturing
Food & Beverage
Financial Services
Healthcare
Logistics & Distribution
Deal Environment
Chicago offers a balanced deal market with strong fundamentals - valuations are more reasonable than coastal markets while target quality remains high. The region's manufacturing base creates consistent opportunities for PE-backed platform builds.
Why Acquire in the Chicago Area
The Chicago metro area's diversified economy and central location make it ideal for platform acquisitions with national expansion potential. The region's deep talent pool in engineering, finance, and operations supports post-acquisition growth.
Illinois Legal Considerations
Illinois enacted strict non-compete reform in 2022 - agreements are unenforceable for employees earning under $75,000 (increasing annually), and employers must advise employees to consult counsel before signing, affecting how buyers retain key personnel post-acquisition.
Local Market Context
Deerfield M&A Market
Chicago-Naperville-Elgin, IL-IN-WI MSA · MSA population 9.6M
MSA Population (2024)
9.6M
U.S. Census Bureau
Top Industry Concentration
1 financial services and trading
2 food and agribusiness
3 logistics and transportation
Chicago is the dominant Midwest M&A hub, with particular strength in financial services (CME Group, options and derivatives markets), food and agribusiness, logistics, and industrial manufacturing. The city's position as the primary Midwest rail and logistics hub gives it outsized importance in supply chain and distribution company transactions. Mid-market buyout activity by Chicago-headquartered private equity firms is a consistent feature of the deal landscape.
Major Deerfield Employers and Deal Anchors
CME Group
Boeing
United Airlines
Caterpillar
Walgreens Boots Alliance
Advocate Health
Transit and Logistics
O'Hare International Airport is one of the busiest in the world. Chicago is the largest US rail freight hub. Union Pacific, BNSF, and CSX all converge here, making logistics transactions particularly active.
Recent Deerfield Deal Signal (2024-2025)
Boeing's ongoing restructuring and supply chain rationalization generated significant aerospace supplier M&A interest in the broader Chicago metro in 2024, while Chicago-based PE firms continued active mid-market healthcare and industrial deals.
Local Regulatory Notes for Business Acquisition Law
Illinois has a Business Corporation Act with specific merger notification requirements. Chicago imposes a transaction tax on certain securities trades executed through Chicago exchanges.
Illinois Legal Considerations for Business Acquisition Law
Non-Compete Laws
Restricted by salary threshold ($75,000+). Mandatory 14-day review period.
Filing Requirements
Entity mergers and conversions are filed with the Illinois Secretary of State, Business Services Department. Bulk asset purchases require notification to the Department of Revenue and obtaining Form ST-4 clearance. The Illinois Securities Department may need to be notified for certain stock transactions.
Key Illinois Considerations
Illinois's Freedom to Work Act imposes detailed procedural requirements (14-day review period, written advisement to consult counsel) that must be evaluated when assessing a target company's non-compete portfolio
Chicago imposes its own transaction taxes and licensing requirements that can affect M&A deal costs for businesses operating in the city
Illinois does not allow combined unitary reporting, which means buyers need to evaluate each entity in a target group separately for state tax purposes
Illinois Bar Authority
Illinois State Bar Association. Voluntary bar. The Illinois Attorney Registration and Disciplinary Commission handles mandatory registration separately.
Federal districts: N.D. Ill., C.D. Ill., S.D. Ill.
Business court: Circuit Court of Cook County Commercial Calendar (established 1993) Chicago-based commercial calendar handles complex business disputes in Cook County. Illinois Freedom to Work Act (820 ILCS 90) governs non-compete and non-solicitation agreements.
Illinois M&A Market Context
Chicago is a top-five U.S. M&A market, with particular strength in financial services, food and consumer products, and industrial manufacturing transactions.
Watchpoints
Common Deerfield Business Acquisition Law Pitfalls
These are the items we see derail business acquisition law transactions in the Deerfield market. Each one is rooted in current statutory law, recent legislative changes, or recurring patterns from the deals Alex has handled.
1
Illinois non-compete enforcement and earn-out exposure
State legal framework
Restricted by salary threshold ($75,000+). Mandatory 14-day review period.
"When the other side returns a redlined definitive, you don't need to be an attorney to scan the document and see whether it's signal or noise. If the entire document is now red, you can see it visually. The quick scan is whether these are actually important points or whether this is grammatical nitpicking for the sake of grammatical nitpicking. The latter is a pretty big red flag pretty quickly. In a good transaction, the redlining focuses on risk allocation, earnouts, exclusivity. The structural points that matter to the client on either side. That's fair. That's fine. When you see the same point reraised three rounds later, you have to ask whether that's a memory problem or just another way to keep the meter running. Sometimes I wonder if the firms are working together to make sure it goes back and forth. I'm not part of that."
2
Deerfield local regulatory exposure
Local regulatory
Illinois has a Business Corporation Act with specific merger notification requirements. Chicago imposes a transaction tax on certain securities trades executed through Chicago exchanges.
3
Illinois regulatory framework attorneys flag at LOI
State statute
Securities regulated by Illinois Securities Department within the Office of the Secretary of State (ilsos.gov/securities). Illinois has a robust Blue Sky framework; Reg D notice filings required. Illinois is an active state enforcement jurisdiction.
Guides and Resources
In-depth guides to help you prepare for your transaction
