Buying a law firm

If you’re looking to purchase a law firm, we’re here to help.

An acquisition is always a big step, and that’s true whether it’s your first buy or your tenth. Our team can be at your side through every part of the process, from considering your initial strategy and identifying targets all the way through to post-completion integration.

We will typically act as your lead advisor, but can also take on the role of a head negotiator or even an impartial honest broker if needed.

There are a lot of stages involved in the process of acquiring a law firm, and it can be difficult to navigate these on your own.

Together, we will:

  • Market review and approach
  • Explore whether acquiring a firm is the right move for you.
  • Determine what type of firm you should be targeting.
  • Build a longlist, then a shortlist, of potential targets.
  • Make the first anonymous approaches on your behalf.
  • Value targets and put together a variety of pricing mechanisms.
Legal and due diligence
  • Develop legal paperwork such as NDAs, business purchase agreements and heads of terms.
  • Carry out extensive due diligence checks on potential acquisitions.
  • Negotiate key areas to minimise your risk.
  • Determine funding and payment terms.
  • Consider tax issues from both sides.
  • Look at how best to arbitrage available tax breaks.
  • Advise on any regulatory and compliance issues, including successor practise rules, ABSs for external funders and assigning CFAs.
Deal structure and negotiation
  • Determine how to structure the deal, including what vehicle to use and how best to allocate the purchase price between upfront payments, deferred terms and earn-outs.
  • Negotiate a strong deal on your behalf.
  • Identify any deal breakers.
  • Tell you when to walk away, if necessary.
Post-deal implementation
  • Carefully plan the post-deal period and any key issues to be addressed.
  • Ensure a good cultural fit.
  • Manage and maintain a successful integration long term.

Could your firm benefit from our tried and tested professional support? We’d love to talk to you about what we could offer.