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Merging balance sheets: The key financial issues in law firm mergers

Colin Ives explores the key financial issues to manage in law firm merger negotiations

9 November 2012

A merger is not right for all firms. There is a market position for a wide variety and sizes of firms with different types of practice areas, but this comes with an acceptance, by the partner group, of a certain type of business existence, stability and lifestyle. Each of these three criteria are important; the culture of the firm will determine the balance between them.

Firms not considering a merger will need to have a vision and understanding of the external market pressures and how they will impact upon their clientele, profitability and hence partner lifestyle.


Market changes

In the UK, the changes associated with the Legal Services Act are causing firms to peer into the future and consider the impact of new entrants to the legal market, firms accessing external capital and the additional burden of increased regulation.

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