Since 2008, we’ve noticed a marked increase in the number of smaller firms looking into the possibility of a merger. Firms with particular expertise in certain areas are seeking opportunities to become full service firms and, of course, the opportunity to share premises and costs can be particularly attractive in the current market.
So far, so good. However, it is in the early, and necessarily tentative, stages that things can break down. Small law firms are often intensely personal businesses whose partners don’t want to broadcast either their intentions or their situations.
This is where Bridge Legal comes in. There are various companies and agencies that “specialise” in legal mergers and acquisitions but we have heard time and again from smaller firms that they aren’t getting the right type of tailored service. What’s more, they’re being asked for a retainer and face the possibility of a large bill based on turnover at the end of the process.
Needless to say, we’re different. Take a look at the rest of our site – our testimonials, our market place, the way we work. We take exactly the same approach to mergers.
We think the most important part of the merger process is the early stages when like-minded firms tentatively explore their relative merits. This is so often the time when egos, misunderstandings and general lack of communication can lead to a collapse of what could have been a fruitful relationship.
With our knowledge of the small and medium sized market place in London, we’re well placed to know what firms are looking for, what type of people are going to gel and what partners in this market are all about.
Best of all, we work on mergers in exactly the same way we work on individual placements. We won’t charge you a retainer and we won’t bill you based on the size or profitability of either business. We’ll simply work on the same percentage ratio we usually do and will charge you our regular percentage fee of the salary of the highest earning fee earner involved in the new firm following the merger*
We know that many firms don’t need the full package offered by specialist M&A companies and simply need help to get the ball rolling. As such, we won’t be involved in any valuations or technical matters, that will be for firms to work out between themselves. We will act purely as an introducer and work through the tricky early stages to get firms around the table together and that’s what we are paid for.
In addition, we have long standing relationships with firms, often stretching back many years, that give us a much greater understanding of how they might sit with another practice based on history, client base, ethos etc – much more so than a company simply looking at two sets of books with a brief understanding of their clients’ backgrounds and market place. Please free to drop us a line or give us a ring for a confidential discussion.
*minimum fee applies
