Merger activity between law firms is gaining momentum at a startling rate. The latest statistics suggest that more than 9,000 firms will consolidate into approximately 5,000 over the next few years. This means that the majority of firms will find themselves involved, either seeking to merge or being approached by others.
There are going to be many opportunities for those firms which have planned ahead and prepared themselves for this situation. The 360 Legal Group provides assistance to merging Law firms and can supply a bespoke service on either a fixed fee basis or an hourly charge. Our consultants have considerable experience in merging all sizes of firm, and can bring a fresh external perspective to your situation.
Unfortunately, the increasing competitive pressures in the legal marketplace are forcing a number of firms into "involuntary" mergers. Other sales and acquisitions are providing an exit route for those Solicitors at the end of their career who find themselves without natural successors in their own partnerships. Whatever the exact position, the same basic rules will apply as in a traditional merger situation.
In addition to consultancy services, The 360 Legal Group runs seminars and workshops to assist firms in preparing for merger, sale or acquisition. Further material is also available to member firms to ease the process. Finally, The 360 Legal Group is creating a database of firms looking to buy, sell or merge and can offer a confidential matching service free to The 360 Legal Group members.
