Imagine returning to the office after your summer holiday to find a sealed envelope marked ‘Strictly Private & Confidential’ sitting on your desk. So, after splashing on the Factor 30 in sun lounger and before you reach for your Kindle, take a few moments to reflect on the key reasons why people buy businesses and how they might apply to your law firm. Just in case that envelope is there waiting for you.
A further series of mergers around the country have been announced as consolidation in the legal market continues to take hold. There is usually a rush of mergers each year timed to coincide with the 30 September deadline to secure professional indemnity insurance.
Mergers have been announced across the country in recent days, with firms of all sizes and practice areas choosing to join forces. There is usually a rush of mergers each year timed to coincide with the 30 September deadline to secure professional indemnity insurance.
The involvement of big brands like BT and KPMG is evidence that alternative business structures have the resources and expertise to encroach on the work done by larger law firms, a top banker has predicted.
More mergers and acquisitions among mid-sized law firms are starting to happen, new research has indicated, on the day that well-known Manchester firm Linder Myers filed its intention to appoint administrators ahead of a possible sale or merger.
A lack of growth is one of the factors behind the increasing trend towards mergers and acquisitions amongst small and medium-sized law firms, new research has suggested. Firms are also continuing to ignore the importance of lock-up to their cash flow, it said.
Professional indemnity insurers are starting to shape the UK legal sector as they exert their influence during law firm mergers and acquisitions, experts have warned. Their attitude towards a firm’s target is becoming a significant influence on who buys whom – and who doesn’t.
The Jackson reforms, legal aid changes and stagnant corporate work drove a record year in law firm mergers during 2012, according to new research. Strategic mergers could help convince creditors that solicitors remain a good credit risk, it also suggested.
A leading merger broker has entered the legal market after joining forces with specialist advisory firm Invest in Law, Legal Futures can reveal. Langcliffe Merger Connect, which spun out of accountancy firm RSM Tenon last year, said it wanted to capitalise on the increasing M&A activity in the sector.
Mid-sized law firms are looking more likely to secure mergers in the coming months than their smaller brethren, new research has indicated. The survey of 92 firms found that most of the firms that had received or made multiple approaches had at least 10 partners.