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Selling of Firm & Owner Retirement

A successful Personal Injury (PI) firm based in the Northwest reached out to Ortus Group to discuss their future plans for their firm as owners sought to pursue their personal aspirations.

The Mission & Challenge 

A firm with national reputation for their work particularly for unions reached out to Ortus Group to find a suitable way to sell their business and book of work. Co-owned by two individuals who were well respected by the industry in their own right, one owner wished to retire while the other wanted to pursue an alternative career outside of law.

This meant that both owners needed to absolved themselves of all liabilities which included a caseload worth in excess of £10m, requiring plenty of work to complete it.

Both owners were equally concerned about confidentiality during the process to ensure that non of the unions in particular became nervous about continue to place their work with the firm. The nature of acting for unions meant created very specific challenges that were unique to this niche, namely in confidentiality and sensitivities.

A market in the state of flux & sensitivities

Driven by lobbying by the insurance industry and subsequent government interventions, the PI sector had undergone significant flux over the past decade. With the market evolving significantly from one year to the next, changing priorities and methodologies required to make much of the work viable.

As a result, different PI firms would have different strategies at any given time. It was imperative that thorough research took place to identify where the best value could be achieved for both seller and buyer.

How Ortus Group Approached this Successfully 

While research underpins every project undertaken by Ortus Group to ensure success, it was particularly essential to get this right to determine which firms were feasible targets.

Due to the socio-political aspect of having unions for clients, this not only meant that the target needed to be able to work with unions; they had to work with the ‘right’ unions as client conflicts were possible.

By identifying which firms acted for which unions, Ortus Group was able to produce an accurate shortlist before reaching out to any firm. The quality of data achieved from this level of research allowed the team to line up two firms who were keen to acquire the business in question.

Research underpins every project undertaken by Ortus Group to ensure success.

The End Result

Within seven months, the client managed to sell to a firm who paid a capital sum that was beyond the expectations of the exiting duo. While Ortus Group was not involved in a subsequent deal with the buyer, the purchase of the client built the buyer to a critical mass and attained a sufficient profit for a much larger international firm to purchase them two years later.