M & A Activity
posted 30th November 2020
An audit, conducted by the consulting team at Viv Williams Consulting, has shown that over half of the Law Firms with whom they are working are actively considering acquisition or disposal as part of their future plans. Merging and acquiring law firms has been a core component of the legal market for hundreds of years and there are huge benefits (and some risks) for firms who chose to go down the M&A route.
In the current climate, with so many ways in which firms can structure themselves and with increasingly divergent competition, it is vital that firms plan their next steps carefully.
Whether buying or selling a law firm the importance of planning and the value of a clear strategy is of critical importance. Firms should also have a clear vision for what they are hoping to achieve through M&A activity and, most importantly, know exactly what success will look like for the firm and for partners and other employees.
This is an area of managing a law firm where preparation, literally, can pay dividends and where making a mistake can be catastrophic. Viv Williams Consulting has a team of consultants with years of experience that can work with law firms to minimise the risk and maximise the opportunity at all stages in the process, together with a contact book that rivals any in the business.