Succession planning is a key strategy for professional practices.

Whether your strategy involves acquiring an existing firm, selling the one you own, merging with another or something else entirely, our expertise and many years of practical experience will help you succeed.

Succession strategy is something that all owners need to be thinking about as soon as they become an owner, and not at the point when they have made the decision to retire/sale, as these plans can take a considerable amount of time to action. Attracting new talent, establishing a dynamic working culture and maximising value for all stakeholders in a law firm requires careful planning.

How can we help you?

We have been helping individuals and law firms acquire/sell or restructure their practices for over 30 years. If you are considering any of these types of transactions, we can support you through the whole transaction.

Our range of services matches our depth of understanding in the sector, and the following is just a selection of the ways in which we can assist you.

  • Due diligence
  • Mergers and acquisitions: selling your law firms and buying/merging with other law firms
  • Business valuations
  • Post deal support
  • Management buyouts/buy-in
  • Financial models and forecasting
  • Introducing key suppliers
  • Finding potential M&A partners
  • Dealing with HMRC, SRA and other statutory requirements
  • Preparing for sale

Have you seen our succession strategy webinar series?

Join us for a unique journey covering the key components that will help make your succession strategy more successful. 

Watch now

Understanding you

From figuring out what your law firm is worth and strategy planning, to completion and post-deal support, we work with you to understand your business objectives and give you the advice you need to make them a reality.

We understand that every firm is unique and there is no ‘right or wrong’ approach to succession as it depends on each firm’s own circumstances. We also understand that your approach may require adaptability and creativity. We therefore encourage firms to consider alternative options for succession that go beyond the traditional, including:

  • Management buyout or ‘buy-in’
  • Establishing an Employee Ownership Trust (EOT)
  • Public listings
  • Raising alternative sources of finance
  • Corporate restructuring, including incorporation, disincorporation and hybrid structures

Understanding the sector

Our team works exclusively with law firms, and we have a deep understanding of the sector, including the practical and regulatory aspect, and this can help the process run smoothly and to plan. 

We also understand that law firms face unique challenges and can help you deal with them,  We have an established relationship with the Solicitors Regulation Authority (SRA) and know how make sure the regulatory aspects of your plan are not a barrier.

Making a difference 

Our Legal Team are fully qualified accountants with over 30 individuals who exclusively work with law firms.

We are proud to announce that we are have recently won 'Advisory Firm of the Year' at the annual South West Business Leader Awards 2021, are shortlisted for the Insider Dealmakers Awards 2021, were placed 6th in the UK Experian M&A national rankings in 2020 and were the most active corporate finance adviser in the South West (Experian M&A Review 2019 and 2018).

 

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Testimonial from Philip Shaw

"Trish proved tenacious and proactive in helping to drive the deal to a successful conclusion and readily understood the nuances of dealing with not only lawyers, but LLP’s. Her knowledge and approach meant that items that may have resulted in disagreement or argument with the acquirers team were dissipated or simply avoided. Finally, the fees involved were in my view both entirely justified and reasonable which is not a comment that often springs to mind in such situations!"

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Testimonial from Anonymous

"Having worked with Trish Kinahan for many years I had no hesitation in engaging her to advise and assist us on the sale of our law firm. Their wide knowledge of the sector helped us to structure the deal an the decision was made to proceed with a share sale. They were there to assist u at all times throughout the process and provided effective and efficient support. We received an excellent service and would certainly recommend them to anyone involved in a corporate transaction."

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Key contacts

Jon Cartwright
Jon Cartwright
Partner
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Patricia Kinahan
Patricia Kinahan
Partner
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Andy Harris
Andy Harris
Partner
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Jack Hayman
Jack Hayman
Senior Manager
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