Case Studies

Case Studies

We pride ourselves on our bespoke service, appropriate to each unique situation. Here are some examples of the businesses we have helped.

Calculator imageInsolvent Target
Our client was a significant single office full service high street firm with 10 equity partners based in a County town. It was reasonably profitable with PEP in the low £100,000s and had a number of market leading niche services for its location.  Strategically it had decided to seek a merger with a view to strengthening and its existing service offering while adding other additional disciplines. As it had a high market share in its existing location it was agreed to approach what were perceived like minded firms in another similar sized geographical location. Read more…

Handshake

Opportunistic Acquisition of a Law Firm
Our client was a four partner firm based in a provincial city. It was profitable with PEP in the region of £160,000. While it provided a full service offering it was significantly skewed by the size of the PI department. It had also recently had some key staff defections in non PI departments. A strategic decision was taken to strengthen the non PI departments and an opportunistic acquisition opportunity of a smaller firm became available. Read more…

NumbersLaw Firm Partner Retirement
This case involved a long established firm in a major city. It had 5 partners, of which 3 were over 60 years old and employed around 40 people in total.  It dealt mainly in property (residential and commercial), private client, company commercial and litigation. Although turnover was approximately £2 million, the company finances were not good and profitability was well below the benchmark, with borrowings equalling almost 6 months’ turnover. Read more…

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Delivering Strategy for a Law Firm
As a very long established and well-known firm, working from a single office in the North of England, this company had 5 partners, two of whom were approaching retirement. Turnover was under £2 million and profitability around 25% below the benchmark, with borrowings of around two months’ turnover. The retirement of the senior partner prompted the remaining partners to review their options, one of the partners finding us via our website. Read more…


Restructuring a Law Firm for the Future

Our client was an LLP with three founder members and wanted to create a structure to bring in new members and allow some of the founder members to retire.  Howard modelled a number of capital and equity scenarios, including restructuring the firm’s property which was held in a number of SIPPs.  Aarons drafted a complex new LLP Agreement to deal with this and separate good will and property agreements to ensure that they reflected changes in ownership of the firm. Read more…

Law Firm ABS Conversion
A successful Personal Injury law firm instructed Wilkinson Read concerning its growth to the next stage.  Barry Wilkinson advised the firm on improved structures for its main PI business and also for some of its peripheral businesses which offered complementary services to clients.  Part of the suggested restructure was for the firm to become an Alternative Business Structure and Barry introduced Mark Briegal from Aaron & Partners.  Aarons were able to guide the firms through a complex ABS application which was approved. Read more…

Law Firm Disposal
Our client was a two Partner High St practice in the North West.  They were looking to sell the practice to a buyer who would keep the main and branch offices open, at least for a reasonable period of time, employ one Partner for at least three years post-completion (the other for no more than six months) and pay a substantial lump sum on completion.  Our route to the client was unusual – we had been acting for a prospective purchaser and had met both Partners to discuss with them their hopes and the opportunities they felt would be open to a buyer.  Read more…

Managing expectations
Our client had been in discussions with a two-partner, commercial firm some twelve months prior to our involvement.  Negotiations had broken down because our client thought that the sellers were being too ambitious, but the two firms had parted amicably.  We were engaged to help our client find firms to acquire in the North West, the strategic aims being to diversify from a niche practice base and to widen the geographical reach of the firm.  We were asked first to talk again to the firm they had met with the year before. Read more…

Merger and Acquisition services to law firms and barristers’ chambers