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Size is a key issue for most firms of solicitors. This is achieved primarily through organic growth or merger, and most firms of solicitors have the possibility of merger or acquisition on their agenda
The problem with organic growth is that it is slow and, on its own, is rarely sufficient, especially for smaller firms. It is very easy to focus attention on two or three key people only to find that, having trained them and just as they become productive and profitable, they leave. Organic growth is always part of the picture but it is rarely sufficient. Firms who rely entirely on organic growth, are over time, to likely be overtaken by their competitors.
For most firms a merger or acquisition can, if done right, be critical in moving them to the next level or creating the economies of scale needed.
Achieving a successful merger is not straightforward:
External support can often make the difference between success and failure and our services include:
We would emphasise that strict confidentiality is maintained at all times.
Our work on mergers typically involves working with both firms over a period of time addressing these and other key issues. Sometimes it can be very useful for the partners in both firms to meet and in effect have a joint partner retreat. It can be a great way of helping the two teams to bond.