Regional law firm sold to the most appropriate buyer, avoiding unacceptable liabilities in future following the sale.
The Mission & Challenge
A regional law firm worth £1.5 million with three offices, 25 staff members and a small partnership reached out to Ortus Group to seek advice after they had been approached by another firm that was interested in acquiring them. While they were keen to sell due to succession challenges, there were elements in the proposal that made them think twice before committing to the sale.
Ortus Group served as an advisor to unpack the pros and cons of the proposal while reviewing the market to ensure that the client was not missing out on more advantageous or equitable opportunities before settling for the original offer. While cash was important, future liabilities, warranties and peace of mind was not safeguarded in the original offer.
This challenge needed to be approached delicately as the ideal buyer pool for this firm was very small. Ortus Group recognised that there was no room or time for wasted opportunities in making all contacts. Equally, this search needed to take place with total sensitivity to avoid losing the original prospect as a solid backup plan.
How Ortus Group Approached this Successfully
Ortus Group very quickly determined that the structure of the proposed deal from the original buyer was going to leave the seller with unacceptable liabilities.
To help this firm achieve the best sale outcome for themselves as well as their team, Ortus Group swiftly identified the top potential buyers within the original candidate pool to speak with. To add another layer of prospects, the Ortus team also leveraged on their UK knowledge and spoke with some national firms who were interested in geographic expansion.
The End Result
Ortus Group helped the firm complete a deal with a national player that was prepared to be much more flexible in working with the seller’s considerations in mind. On top of securing a cash sum and an 18-month retirement plan for the client, security for the firm’s staff and TUPE was delivered, completely clear of future liabilities.
From research, strategy to execution, the Ortus Group helped the client achieve this outcome within 6 months.