Buying a Law Firm

Buying a Law FirmBuying a law firm

Buying a law firm is a big step. The team at Mosaic has the skills and experience to help you through every step of the process from finding a target firm to post-completion integration.

We can help you – usually by way of acting as Lead Advisor – through the keys stages of buying a law firm:

Why?  Evaluate the reasons for wanting an acquisition

Who?  Define criteria for target firms – geography, size, specialisms, key staff etc

Market  Review market to find long list of target firms and then whittle down to a short list

Approach  Mosaic can make the first anonymous approaches on your behalf to maintain the all-important confidentiality

Pricing  We can help you value targets and come up with a variety of pricing mechanisms

Legal  We can help you with NDAs, heads of terms, business purchase agreements, due diligence, employment, property, partners leaving or staying and help negotiate all the key areas to minimize your risk

Financial  We can look at funding and payment terms and the financial due diligence of target firms

Deal structure  We look at how to structure the deal. In particular what vehicle to use and how best to allocate the purchase price between the amounts up front, on deferred terms, by an earn out and/or by way of retained equity

Tax issues  We consider these both from your point of view and that of the seller. We look at how best to ‘arbitrage’ the tax breaks that may be available

Negotiation  We know the market and have worked on numerous deals, so can help you negotiate a good deal for you.  We will identify the ‘deal breakers’ and we’ll also tell you when to walk away

Regulatory  We can advise on any regulatory issues relating to your law firm acquisition. These might be successor practice rules, ABSs for external funders, assigning CFAs and other compliance issues

Post deal  Successful acquisitions are characterised by careful planning of the post deal implementation. This should be started well before completion. We will help identify the key issues to address

Culture  Many mergers fail because of the lack of a cultural fit. We can help you ensure that your new acquisition is integrated successfully into your business

Contact us now for a free no-obligation chat – 07968 059363

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Merger and Acquisition services to law firms and barristers’ chambers