California Law Firm Considering Merger
Our client is a full service firm with
$30M+ in revenue. We have been retained to evaluate merger opportunities. This
firm is surprisingly profitable, with low turnover, a sturdy and diverse client
base and deep roots in the community. While they continue to do well, they sense
that they can expand their existing client base and effectively position
themselves for future growth by hooking up with a well managed national firm
with offices in other parts of the country. Some of their clients are national.
This firm is not looking for a white knight but a strategic business partner. At
the appropriate time financial data, client information and related can be
supplied.
Northern California Firm Wanted
Our 600+ lawyer client is one of the best -managed and most prestigious firms in
the nation. They are quite profitable but have not priced themselves into the
stratosphere. This firm has a superb client base that generates several million
in revenue to the West Coast, has no debt, a great reputation and terrific
people. Surprisingly, the lawyers do not take themselves too seriously - and
that is from the top down. We have gotten to know the firm well, work directly
with their leaders and have helped them grow in other offices. Practice areas
that would play well to their strengths are: general business litigation,
general corporate (M&A), Labor and Employment, Real Estate and Finance and
Health Care. The ideal candidate (law firm or group) has lawyers with excellent
reputations, a strong business base, cohesive team oriented culture and
demonstrated leadership. Book requirements, rates and compensation can be
discussed.
Firms (5-100+ lawyers) Evaluating
Merger Opportunities
Rather than give specifics, (which we are prepared to do at the appropriate
time), suffice to say that we are selectively representing firms that are not in
the "Active Search Mode" but receptive to seriously evaluating
excellent merger opportunities. As an example, two of the firms we represented
in mergers: 15 lawyer Layman, Jones & Dye (Orange County) with Bryan Cave
and Hosie Wes Sacks & Brelsford (17 lawyers in Northern California with
Perkins Coie), were both very profitable groups of lawyers who were doing well
on their own. They both ultimately determined that significant 2+2=5 synergies
plus the vast client base and financial strength of the larger firms made strong
strategic and economic sense. In addition, there was great chemistry and
compatibility between the groups. While greater control of destiny and ones name
on the door are powerful incentives for keeping autonomy, the firms we represent
are looking for strategic business partners with greater geographic reach. These
firms are full service with particular emphasis in one or two key practice areas
e.g., general corporate; securities and finance; business litigation, etc. Some
have lawyers that came out of large firms years ago. All have strong leadership
and growing practices.
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