The sale, merger or valuation of a law firm is a unique undertaking. The sale, merger or acquisition of a law firm is normally heavily impacted by factors such as the personal relationships, knowledge and goodwill help by principals or partners of the firm at hand, the type of work undertaken by the law firm (for example, law firms that focus on commercial matters are generally valued and transacted differently to law firms that focus on compensation matters), and the geographical location of the law firm at hand.
In recent times, the legal industry has experienced steady growth, however fee pressure has been felt by some firms owing to external competition from accounting firms who have diversified to offer basic commercial services to pressure from automated legal tools and offshore legal service providers.
There has been a significant amount of merger and acquisition activity in the legal industry in the last few years, with many law firms looking to merge to reduce overheads (such as office rent), decrease administration costs and diversify into complimentary legal service areas.
In our experience, there are a number of factors that have a direct impact on the valuation of law firms, such as:
- The growth prospects of the law firm;
- The geographical location of the law firm;
- The service offering of the law firm, and;
Expert Guide: Sale, Merger, and Valuation of Law Firms
The nature of systems and procedures in place within the law firm. Based on our significant experience in working with the legal industry, Quinn M&A has developed an Expert Guide on the Sale, Merger and Valuation of Law Firms. This guide is an invaluable resource, allowing Principals and Partners of law firms to understand the current state of their industry, how law firms are valued and what factors need to be considered when selling or merging a law firm.
Our Experience and Expertise
At Quinn M&A, we have significant experience in advising on the sale, merger, acquisition, and valuation of law firms. We understand the nature of the legal industry better than our competitors as we have direct experience in owning and operating law firms.
Principals and Partners of law firms can trust Quinn M&A to provide expert advice in a range of areas, including:
- Valuations of law firms;
- Advice to assist with the merger or acquisition of law firms;
- Due diligence advice for law firm mergers, acquisitions or sales;
- Full brokerage service for the sale of law firms, and;
- Specialist taxation advice.
Clients and advisors who require assistance with undertaking the sale, merger, acquisition or valuation of a law firm are encouraged to call us on 1300 784 667 to schedule a complimentary consultation with one of our Directors.