Mergers and Acquisitions at CMS | Career Guide

By Hollie Gould · Published: 9 February 2026 · Updated: 25 February 2026 · 7 min read

This guide explains what it is like to work in Mergers and Acquisitions (M&A) at CMS in the UK, and how to position yourself to secure a training contract or lateral role in the team. It covers the team's market reputation, the types of transactions you will encounter, training and development opportunities, and practical application strategies. The advice is focused on actionable steps - CV and interview techniques, technical preparation, and ways to build commercial awareness tailored to CMS's practice model.

M&A at CMS operates in an international, mid-market-to-large-cap environment with significant private equity and corporate client activity. Aspiring solicitors should understand both the technical demands of transactional work and the softer skills that matter to partners and hiring teams: commercial judgement, project management and client communication.

Team reputation and structure

CMS's M&A capability is embedded across its international network rather than concentrated in a single London office. This structure means the UK team works closely with continental European and international colleagues on cross-border transactions. The team is recognised for pragmatic, commercial advice that suits sponsors, corporates and strategic buyers in mid-market and sector-focused deals.

The M&A practice typically includes sub-teams or specialists in the following areas:

Corporate deals and share/purchase agreements
Private equity buyouts and portfolio company work
Joint ventures and strategic alliances
Reorganisations and group restructures
Industry-specific teams (for example, energy, real estate, technology and life sciences)

Junior lawyers at CMS often rotate between different deal types and industries, which helps build a broad transactional skillset. If you prefer depth in a particular sector, express that interest early - partners value demonstrable sector knowledge.

Types of work and notable deal experience

M&A work at CMS covers the full deal lifecycle: due diligence, deal structuring, drafting acquisition documents, negotiating warranties and indemnities, and post-completion integration and regulatory filings. The cross-border nature of many instructions means frequent coordination with foreign counsel and exposure to multi-jurisdictional issues such as regulatory approvals and tax structuring.

You should expect to experience the following in your workflow:

Leading parts of seller or buyer due diligence exercises and drafting disclosure letter schedules
Preparing and negotiating share purchase agreements (SPAs), asset purchase agreements (APAs) and escrow arrangements
Advising on completion mechanics and escrow/retention structures
Supporting private equity clients on acquisition and exit strategies, including earn-outs and vendor finance
Coordinating with finance, tax and competition lawyers on financing, tax-efficient structures and merger control

Exposure to these tasks will vary by level of seniority and deal urgency. Smaller teams and mid-market transactions often give junior lawyers earlier exposure to client-facing tasks and negotiation drafting, which is useful to highlight in applications.

Training, secondments and career development

CMS offers structured training that combines formal classroom modules with on-the-job learning. Transactional teams typically run technical training on drafting SPAs and sale documents, negotiation simulations and legal project management. The firm's size also creates internal mobility options for trainees and associates.

Typical development opportunities include:

Internal secondments to other European offices, which provide experience with EU legal frameworks and cross-border project management
Secondments to private equity houses or corporate clients, which are invaluable for understanding commercial drivers and timing pressures
Formal mentoring schemes and partner-led feedback cycles to guide technical and business development skills
Support for professional qualifications and continuous professional development (CPD) focused on advanced corporate and commercial topics

When assessing offers, ask for specifics: how many associates have completed client secondments in the last 12 months, what formal training modules are scheduled for M&A juniors, and what expectations exist around business development and billing targets. These details indicate how invested the firm is in your long-term development.

Applying to CMS M&A: practical timeline and process

CMS recruits trainees and laterals through a combination of vacation schemes, open applications and later-stage assessments. The process often includes online application forms, situational judgement or verbal reasoning tests, a CV and cover letter review, and interviews that may involve technical questions or a case study.

Practical steps and timelines:

Research and target dates
Review application windows for training contracts and vacation schemes early. Many firms open applications 12-18 months in advance of start dates.
Application materials
Tailor your CV to emphasise transaction-relevant experience: drafting, due diligence, client correspondence, or finance/sector knowledge. Include measurable outcomes where possible (for example, "Managed due diligence for a 20‑asset acquisition, producing a risk register used in negotiations").
Assessments and interviews
Prepare for competency-based interview questions (teamwork, problem solving, prioritisation) and technical M&A questions (SPA clauses, warranties, disclosure letters). Expect a practical case study where you must spot legal risks and propose pragmatic commercial solutions.
Vacation schemes and assessments
If offered a vacation scheme, treat it as an extended interview: deliver high-quality work, ask intelligent questions and build relationships with partners and HR. Practical workproduct, not just theoretical knowledge, stands out.

Be proactive about clarifying timelines and feedback. If you progress to interviews, request details about the format so you can prepare relevant technical examples.

Practical application and interview strategies

To stand out for M&A roles at CMS, combine technical competence with commercial awareness and strong interpersonal skills. Specific, demonstrable examples are key.

CV and cover letter strategies:

Prioritise transactional experience, legal drafting, and project management details. If you lack live deals, emphasise negotiation clinics, mooting, or pro bono transactional exercises.
Use concise bullet points showing your role, actions and outcomes. Replace vague phrases like "assisted with due diligence" with precise descriptions such as "compiled and analysed vendor documents for 150‑item due diligence list, identifying 12 material commercial risks".

Interview and assessment strategies:

Prepare three strong examples that show commercial judgement, teamwork under pressure and attention to detail. Use the STAR method (Situation, Task, Action, Result) to structure answers.
Master core technical concepts: typical SPA structures, how disclosure letters work, key representations and warranties, escrow mechanics and basic considerations for earn-outs.
Build commercial awareness focused on sectors CMS targets. Read The Financial Times, The Lawyer, Chambers Student and weekly industry updates. Use YourLegalLadder for targeted commercial awareness briefings and firm profiles to match your preparation to CMS's recent market focus.
In case studies, prioritise commercial solutions. Do not only list legal points; explain client priorities, risks and suggested practical mitigations.

Networking and interview follow-up:

Attend firm events and reach out respectfully to alumni or associates for insight. Prepare thoughtful questions about workload, supervision, and the firm's approach to deals.
After interviews, send a brief thank-you email reiterating one or two points that highlight your fit for the team.

Resources and further reading:

YourLegalLadder for firm profiles, application trackers and SQE support
Chambers Student and LawCareers.Net for market insight and interview tips
Practical law, The financial times and The lawyer for transactional updates
LexisNexis and Westlaw for technical research and precedent documents

Combining disciplined preparation with targeted commercial examples will materially improve your chances of success when applying to M&A at CMS.

Frequently Asked Questions

What will my day-to-day work look like as a junior in CMS's UK M&A team?

As a junior you'll split time between document work and client support: drafting parts of SPAs, preparing and collating disclosure schedules, running and summarising due diligence, and revising board and shareholder documents. Expect heavy deal-list management, version-control with redlines, and liaison with clients, banks and foreign counsel on cross-border matters. You'll attend internal deal meetings and may sit in on client calls. Work is often fast-paced close to completion, with quieter periods for training and research. Demonstrating accuracy, commercial judgement and good document-drafting will get you noticed quickly.

How should I tailor my training contract or lateral application to stand out for M&A at CMS?

Focus on concrete transactional experience and sector relevance. Use bullet points that quantify involvement: number of due diligence reports, value bands, drafting examples and any client contact. Research CMS using firm profiles (including YourLegalLadder), recent deals and sector strengths, and reference a specific CMS transaction or sector challenge in your cover letter. Include a short deal write-up as an appendix to your application. Use the Training Contract tracker on platforms like YourLegalLadder to manage deadlines, and arrange mock interviews with a mentor to practise answering technical and commercial questions concisely.

Which technical areas should I master before an M&A interview or seat at CMS, and how do I prepare them practically?

Prioritise the Companies Act basics, SPA anatomy, warranties and indemnities, disclosure letters, due diligence processes, insolvency risks, anti‑trust basics and takeover rules where relevant. Practically, read Practical Law and IFLR briefings, review recent CMS deal documents where available, and practise drafting a short SPA clause and disclosure schedule. Use YourLegalLadder's SQE question bank and revision materials for applied testing, run timed drafting drills, and book mock technical interviews with a mentor to get feedback on commercial framing and crisp explanations of complex concepts.

How can I demonstrate CMS-specific commercial awareness in interviews without sounding generic?

Start by identifying a recent CMS deal or market move from YourLegalLadder, The Lawyer, IFLR or the Financial Times. Explain the deal's strategic rationale from the client's viewpoint, highlight the main transactional or regulatory risks, and propose practical mitigation or negotiation angles - avoid abstract commentary. Tie that insight to a CMS sector (for example energy, infrastructure or TMT) and suggest how the firm's cross‑border platform adds value. Finish by asking a focused question about the team's approach, which shows curiosity and prepares you for a two‑way conversation.

Get tailored M&A application support for CMS

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