On April 15, 2026, Lexpert recognized the expertise of seven of our partners in its 2026 Lexpert Special Edition: Finance and M&A. René Branchaud now ranks among Canada’s leaders in the area of finance and Étienne Brassard, Jean-Sébastien Desroches, Alexandre Hébert, Édith Jacques, Paul Martel and André Vautour are among Canada’s leading lawyers in mergers and acquisitions. Finance René Branchaud practises in the fields of securities, mergers and acquisitions, as well as corporate law. With more than thirty years’ experience, he advises companies on matters such as incorporation and organization, the drafting of shareholder agreements, private placements, public issues, going public, dispositions, and takeovers. M&A Étienne Brassard practises business law, more specifically corporate financing, mergers and acquisitions and corporate law. He advises local and international businesses in relation to all forms of private financing, from traditional or convertible debt to equity investments. Jean-Sébastien Desroches practises business law and focuses primarily on mergers and acquisitions, infrastructure, renewable energy and project development as well as strategic partnerships. Alexandre Hébert is a partner in the Business Law group, focusing on mergers and acquisitions, corporate finance and venture capital. He advises SMEs and investment funds, particularly in the innovation and technology sectors, including on cross-border transactions. Known for his business-minded approach, he supports clients with pragmatic legal and strategic guidance aligned with their growth objectives. Édith Jacques is a partner in our Business Law Group in Montréal. She specializes in mergers and acquisitions, commercial law and international law. Édith acts as strategic business advisor for medium to large private companies. Paul Martel is a partner in the Business Law Group. He practises primarily in the area of corporate law, focusing on corporations, not-for-profit corporations and general partnerships. He is also an expert in commercial contracts. Paul is recognized for his ability to find effective, innovative solutions to the most complex legal issues in corporate law. André Vautour practises corporate law and commercial law, and is specifically interested in corporate governance, strategic alliances, joint ventures, investment funds, and mergers and acquisitions of private companies. About Lavery Lavery is the leading independent law firm in Quebec. Its more than 200 professionals, based in Montréal, Québec City, Sherbrooke and Trois-Rivières, work every day to offer a full range of legal services to organizations doing business in Quebec. Recognized by the most prestigious legal directories, Lavery professionals are at the heart of what is happening in the business world and are actively involved in their communities. The firm’s expertise is frequently sought after by numerous national and international partners to provide support in cases under Quebec jurisdiction.

At Lavery, we help businesses through pivotal moments in their life cycles every day. During the recently held Sommet du repreneuriat 2026, our partner Alexandre Hébert shared the stage with Daniel Valois for a talk on how to close the key stages of a business transfer, covering everything from letters of intent to indemnification clauses. Their talk brought a fundamental reality to light: A business transfer is not just another commercial transaction. It’s a complex process where transactional law and its technical language comes face-to-face with the emotional realities of those involved. Here is a summary of what we see as necessary for a successful transfer, inspired by the talks given at the aforementioned summit. Each business transfer is unique Unlike traditional institutional transactions, business transfers often involve sellers who will only ever go through one such transaction in their lifetime. They are entrepreneurs who know every employee involved in their business, from their own administrative assistant to the photocopier repairperson, and have for decades. Success begins by knowing that business transfer transactions require the use of a special language. Often, the seller’s advisors their lawyer or general accountant, for example do not know this “transactional language,” which adds a layer of complexity. Our role is to translate technical challenges such as these into solutions that truly help those involved. The foundations of a successful transaction To make the transaction successful, we recommend doing the following: Put people first: It’s important to understand how the seller, who is about to part with their “baby” feels, and how they see things. Show your competence but leave your ego behind: Technical expertise is quite necessary, but connecting with the people on the other side of the table by communicating in simple terms and putting one’s ego aside is just as important. Be as open as possible: Proactivity is key. The earlier things are said, the greater the chances of success. Manage fatigue: A transaction is a marathon. Fatigue, if not anticipated, can derail a project a few feet from the finish line.   The Letter of Intent (LOI): more than a tacit agreement Although a letter of intent is technically non-binding where business terms are involved (price, structure), it will inevitably create expectations for both the buyer and the seller. Any attempt at making changes later on creates tension. A common mistake is neglecting the transition period. We have seen transactions fall through because a seller suddenly realized they had no plan for their life after the sale, just days before closing. To allay such emotional fears, it is crucial to disclose all information we have and determine what the parties want after the business purchase or sale, right from the LOI stage. Due diligence: the analogy of the three drawers Daniel Valois has a powerful analogy for due diligence: that of the three drawers. The top drawer: What you know for sure. Middle drawer: What you think you know but has yet to be confirmed. Bottom drawer: What you don’t know you don’t know. This is where major risks hide. The goal of the due diligence process is to move the contents of the lower drawers to the upper ones. Today, we have artificial intelligence as an increasingly valuable ally in identifying sectoral blind spots that experience alone cannot always detect. Although eliminating all risk is impossible, the buyer must make every effort during due diligence to confirm whether they are comfortable with identified risks. The art of compensation and the role of experts The final phase consists of allocating identified risks. This is where representations, guarantees, limits and indemnification deductibles come into play. This is also the stage where fatigue peaks. This climate is tense, requiring lawyers and experts to act as “shields.” Rather than letting the buyer and seller argue over technical indemnification clauses and risk damaging their future relationship, it is often preferable to let the professionals negotiate among themselves to come up with a balanced solution. Towards collaborative negotiation The negotiation process has changed. Today’s “discussions” often take place through intermediary versions of documents rather than with the parties at the same table. Negotiating this way can be impersonal and cause misunderstandings, or even frustration, for a seller who sees dozens of versions without understanding the nuances of each one. The speakers recommend a collaborative approach. It is important to know when to step out of the formal setting to make a direct call and defuse an emotional crisis or the overreaction of an advisor. The ultimate goal is to keep the business in operation and ensure the transition goes smoothly. In conclusion, a successful business transfer requires not only legal acumen, but also great emotional intelligence. By keeping people at the heart of every step and surrounding ourselves with experts who can speak the entrepreneurs’ language, we can transform complex transactions into a lasting success.

Lavery is proud to announce that 42 partners are ranked among the leading practitioners in Canada in their respective practice areas in the 2026 edition of The Canadian Legal Lexpert Directory. The following Lavery partners are listed in the 2026 edition of The Canadian Legal Lexpert Directory: Asset Securitization Brigitte M. Gauthier Banking Étienne Brassard Class Actions Laurence Bich-Carrière Myriam Brixi Marie-Nancy Paquet Construction Law Laurence Bich-Carrière Nicolas Gagnon Marc-André Landry Ouassim Tadlaoui Corporate Commercial Law Étienne Brassard Jean-Sébastien Desroches Christian Dumoulin Alexandre Hébert Édith Jacques Paul Martel André Vautour    Corporate Finance & Securities Josianne Beaudry          René Branchaud Corporate Mid-Market Étienne Brassard Jean-Sébastien Desroches Alexandre Hébert Édith Jacques    André Vautour Employment Law Benoit Brouillette Frédéric Desmarais Simon Gagné Richard Gaudreault Marie-Josée Hétu Guy Lavoie Josiane L’Heureux Zeïneb Mellouli Environment Valérie Belle-Isle Family Law Caroline Harnois Awatif Lakhdar Elisabeth Pinard Infrastructure Law Nicolas Gagnon Insolvency & Financial Restructuring Yanick Vlasak Insolvency Litigation Jean Legault      Ouassim Tadlaoui Yanick Vlasak Jonathan Warin Intellectual Property Chantal Desjardins Alain Y. Dussault Isabelle Jomphe Eric Lavallée Labour (Management) Benoit Brouillette Brittany Carson Simon Gagné Richard Gaudreault Marie-Josée Hétu Marie-Hélène Jolicoeur Guy Lavoie Carl Lessard Zeïneb Mellouli Litigation - Commercial Insurance Dominic Boisvert Martin Pichette Litigation - Corporate Commercial Laurence Bich-Carrière Marc-André Landry Litigation - Product Liability Laurence Bich-Carrière Myriam Brixi Medical Negligence Anne Bélanger Mergers & Acquisitions Josianne Beaudry    Étienne Brassard       Jean-Sébastien Desroches Christian Dumoulin Alexandre Hébert Édith Jacques Mining Josianne Beaudry           René Branchaud Occupational Health & Safety Josiane L'Heureux Professional Liability Marie-Nancy Paquet Judith Rochette Technology André Vautour Workers' Compensation Marie-Josée Hétu Josiane L'Heureux Guy Lavoie Carl Lessard

In October, Desjardins Capital announced a major investment in Chagall Design, a leading Canadian furniture manufacturer headquartered in Sainte-Julie. As a minority shareholder, Desjardins Capital will provide not only financial support but also strategic guidance to help Chagall Design consolidate its business plan and pursue its development goals. The ambitious business is currently expanding its activities into the United States and preparing to penetrate the European market with a view to diversifying and seizing new opportunities. Lavery had the privilege of representing Desjardins Capital for this investment. The Lavery team, led by Alexandre Hébert, was composed of Francis Dumoulin, Siddhartha Borissov-Beausoleil, Jessy Ménard, Arielle Supino, Chloé Béland and Sonia Guérin.