Mergers and acquisitions
As the Legal Services Act is fully implemented it is anticipated that a number of firms will merge or acquire other practices in order to increase size and gain competitive advantage. A survey we undertook in conjunction with the Law Society Gazette in July 2010 confirmed that most firms had the possibility of merger on their agenda.
External support can often mark the difference between success and failure and our services include:
- Assistance developing an overall strategy that would include consideration of merger and acquisition opportunities
- Identification and evaluation of potential merger partners
- Possible implications in terms of partner retirements and appointments
- Initial contact and approach
- Facilitation of merger negotiations and due diligence
- Profit sharing in the new firm
- Legal structures - possible options
- Assistance developing a joint strategy and management structure
- Team building
We would emphasise that strict confidentiality is maintained at all times.
Contact
Andrew Otterburn +44 (0)1484 682928, andrew.otterburn@otterburn.co.uk
or,
Colin FitzPatrick +44 (0)191 244 2549, colin.fitzpatrick@fitzroyle..co.uk
Once a merger, acquisition or disposal has been agreed in principle, detailed legal advice will also be required. Cobbetts LLP have advised a number of professional practices in respect of mergers, and we have been working with them to develop a joint package of support, including:
- Legal due diligence
- Negotiating the merger, acquisition or disposal agreement
- Warranties and disclosures
- Completion accounts
- Partner lock-ins
- Minority protection
- Funding arrangements
- Freehold and leasehold property arrangements
- Members' or partnership agreement
Contact
Graham Muth +44 (0)845 404 2504, graham.muth@cobbetts.com
Business benefits of using our services include:
- A proactive rather than reactive business strategy
- The liklihood of a more succesful merger