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Sale of Independent Law Firm, Midlands

We were originally contacted by the Managing Partner of this firm for advice because he held an offer for sale to a larger multi-office law firm who had approached him directly.  There were terms of this offer that did not sit comfortably with him and he was unsure what to do.  We met to discuss objectives and considerations of a sale along with the pros and cons of the existing offer which led to us concluding it would be dangerous to go ahead with the option he held.  This led to an instruction for us to engage the whole market to assess what other options there may be and enabled us to do so with his concerns and considerations up front and central rather than something that would be dealt with down the line.  Within 6 weeks, we received a further offer for the business that dealt with his specific concerns as well as providing a fair financial settlement. The owners accepted this offer and went on to work as consultants to the new business during a 12 month handover period before happily retiring, totally free from ongoing concerns or liabilities.