Client Overview: Our client was an established, owner-managed law firm located in the East Midlands. With an annual turnover of £1.5M, the firm had built a stellar reputation in the local community through years of exceptional service. However, the absence of internal succession planning left the owner facing a critical challenge: finding an external buyer capable of upholding the firm’s legacy while offering a competitive cash price for the business.
Challenges:
- No Internal Succession: With no suitable successors within the firm, the owner needed to look externally for a buyer who could seamlessly continue operations.
- Maintaining Team and Client Relationships: The client prioritised the welfare of their dedicated team and the continuity of client relationships, essential for preserving the firm’s reputation.
- Achieving a Competitive Sale Price: Securing a fair and lucrative cash price for the business was paramount to the owner’s objectives.
- Preserving Reputation: The firm’s excellent standing within the local community needed to be safeguarded throughout the transition.
- Navigating Due Diligence and Emotional Challenges: The sales process required meticulous preparation for due diligence and navigating the emotional complexities of letting go of a long-established business.
Our Approach: Ortus Group was engaged to deliver a bespoke solution tailored to these unique requirements. Our process included:
- Detailed Assessment: We conducted an in-depth analysis of the firm’s operations, financials, and market position to present a comprehensive profile to potential buyers.
- Market Mapping and Outreach: Leveraging our extensive network and proprietary databases, we identified and approached strategic buyers who aligned with the client’s criteria. These buyers demonstrated financial capacity, operational capability, and a commitment to maintaining the firm’s ethos.
- Support with Due Diligence: Preparing for due diligence was a critical part of the process. We worked closely with the owner to compile and organise all necessary documentation, ensuring a smooth and transparent process for potential buyers.
- Addressing Emotional Challenges: Recognising the personal and emotional impact of selling a business, we provided the owner with empathetic guidance throughout the journey. This included regular check-ins to address concerns, reassurance about the legacy of their business, and support in transitioning to their next chapter.
- Discrete Negotiations: Ensuring confidentiality was critical to protect the team and clients during the sales process. We managed discreet communications with vetted buyers to maintain the firm’s stability.
- Tailored Matchmaking: We shortlisted buyers who shared the owner’s values, ensuring they would uphold the firm’s reputation, take care of the team, and foster long-term client relationships.
- Securing Optimal Terms: We facilitated negotiations to secure a competitive cash price and favourable terms, ensuring a seamless transition of ownership.
The End Result: Ortus Group successfully identified a strategic buyer who met all the client’s requirements. The transaction delivered:
- A Competitive Cash Price: The owner achieved a sale price reflective of the firm’s market value and growth potential.
- Team and Client Continuity: The buyer committed to retaining the existing team and ensuring uninterrupted client service.
- Reputation Preservation: The firm’s legacy and local reputation were upheld, with the buyer embracing the same values that had driven its success.
- Smooth Transition: Through meticulous preparation and support, the due diligence process was completed efficiently, minimising stress for all parties involved.
- Retirement with Financial Security: The owner achieved the financial security needed to retire comfortably, knowing their years of dedication were fully recognised.
- No Future Liabilities: The transaction was structured to ensure the owner had no ongoing liabilities, enabling a clean and worry-free exit from the business.
This case study highlights Ortus Group’s ability to navigate complex sales scenarios, delivering exceptional outcomes for owner-managed businesses. By combining market insight, a tailored approach, and a commitment to client goals, we provide unmatched support in achieving successful transitions.
Find out how our team can help you by contacting us today.
Colin White Founder & Managing Director
Telephone 0330 100 5420