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Lawyer and accountant launch M&A advisory firm

Mosaic M&A co-founded by SAS Daniels' former managing partner, Nigel Haddon

8 August 2014

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By Manju Manglani, Editor (@ManjuManglani)

The former managing partner of SAS Daniels has teamed up with a chartered accountant to launch Mosaic M&A, a joint venture firm specialising in helping UK law firms and barristers' chambers "get mergers and acquisitions over the line".

Nigel Haddon has formed the advisory firm with Howard Hackney, Grant Thornton's former North West head of professional practices.

The joint venture will support sole practitioners to law firms outside of the top 50 "navigate their way through what can often be the most challenging part of any managing partner's career," according to Haddon.

"There is no doubt that the legal services sector has experienced seismic changes in recent years, notably following the Jackson reforms and Legal Services Act. It is a fragmented market, with over 10,000 firms, which is poised for further consolidation right across the spectrum. We also expect continued consolidation among barristers' chambers as they bid to cut costs and respond to competition," he said.

Research from the Law Society indicates that one in three law firms expect to undergo a merger within the next three years to refocus their businesses, adapt to challenging market conditions and ensure long-term stability. The financial benchmarking survey also warned that a third of firms will need to restructure their business to survive.

Nigel Haddon spent nearly 20 years at SAS Daniels. During his eight-year tenure as chief executive, he oversaw several acquisitions, including Richard Lee Solicitors (2007), Berry & Co (2011) and TWP Solicitors (2012). Haddon is the former chair of the law firm management section of The Law Society.

Howard Hackney spent over 25 years as a partner at Grant Thornton UK and recently advised on Slater & Gordon's acquisition of John Pickering & Partners.

Commented Hackney: "We are passionate about supporting businesses during periods of change, adding real value and helping solve the problems that keep managing partners awake at night."

The joint venture has been formed between Nigel Haddon's and Howard Hackney's respective firms, Nigel Haddon Consulting and Howard Hackney LLP.

 

 

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