What we do.
Each deal is bespoke and depends on the nature of the firm and the aims of the current partner or partners, but the following gives a broad overview.
We do not deal with legal aid or with firms who have poor claims records. Our member are all strong established businesses, with good reputations and a proven history in their locations.
We call them “Local Hero” firms.
We work with sole practitioners, or small firms with partners of a similar age, who wish to retire over the next 2 years or so. After a full due diligence process and if we all get on with each other, we will offer suitable terms to acquire the firm. We will be the successor practice negating the need for run-off insurance and allowing them to retire elegantly, safe in the knowledge that no claims can ever disturb their retirement. We will maintain their brand locally, hire in a new senior lawyer and inject state of the art IT and marketing to grow the firm, encouraging the retiring partner to stay connected with the firm they have built as an ambassador.
If the time-scale is a little longer, say 5 years to exit, this is not a problem. We will just acquire the equity over an agreed period allowing the partner(s) to benefit from improved profits as we grow the business.
You trained to be a lawyer not to run a business.
This is quite a common situation where the increasing burdens of compliance, PII, IT, Banks and general day to day running of the firm are taking you away from what you love to do – the law. The business side of law firms is all we do, so if you want to get back to the law and escape these pressures, let us run the firm for you so we can all benefit from a more efficient business.