The board of this firm was exploring the feasibility of further expansion in high net worth areas of West London. The team reached out to Ortus Group to conduct the research needed to pursue a well measured acquisition strategy in the area to avoid unnecessary losses.
The Mission & Challenge
Having worked with this firm for many years, Ortus Group accomplished multiple executive search projects for them which resulted in 15 partner or board appointments including building its entire real estate team and opening a London office via team acquisitions.
Aware of this this expertise, the client commissioned Ortus Group to conduct a research project to identify if, and where useful acquisition opportunities may exist within their target areas.
The team was commissioned to provide appropriate advice to the management board by analysing the strength and depth of other law firms in the area while discovering the key concerns and considerations of the firm owners and other key elements that represent a viable acquisition opportunity.
The client investing in this strategy was an insurance policy against wasting a huge amount of time and the opportunity cost of taking key partners away from their clients.
A saturated market with more than meets the eye
The region of interest was saturated with an excess of over 100 law firms within the catchment. While many of them had high public profiles, many others were virtually unknown despite presenting high quality performance. It was imperative that Ortus Group left no stone unturned in this search as the two critical challenges of this project were discovery and engagement.
How Ortus Group Approached this Successfully
A project of this magnitude was quite labour intensive. Ortus Group needed to have a large number of conversations with owners of a valid spread of firms from the catchment to ensure the research was fit for purpose.
This had to be approached differently as the team was not simply searching for acquisition targets, they had to paint a picture of the local legal economy. As such, engagement with firms that were not good targets was still essential.
The End Result
Following several weeks of intensive research, Ortus Group was able to compile a comprehensive report that informed the board on their strategy as well as highlighting three specific firms that fit their criteria. Subsequently, two firms were acquired, positioning the client well inside the UK’s top 100 law firms today.