THE LEGAL services market is an increasingly hostile and dynamic market which is driving consolidation at a pace never before witnessed.
As a topic, merger and acquisition is on the agenda of most law firm leaders – at one extreme to keep a market watch on activity (even if there is no immediate intention to engage), and, at the other end of the spectrum, firms which are actively pursuing a growth strategy based on merger.
This report is a guide for law firm leaders on merger strategy and realisation. It provides in-depth advice on the merger process, starting with an outline of why a merger might be considered an appropriate strategic option and identifying what the profile of an ideal merger candidate firm might look like, through to initiating discussions, identifying issues in the negotiation process, the building of the merger business case, and creating opportunities to realise merger dividends with a particular emphasis on the client opportunity.
- Chapter 1: Forces driving change in the sector
- Chapter 2: New entrants and the impact of private equity in the legal sector
- Chapter 3: Why law firms might consider a merger as a strategic option
- Chapter 4: The central role of vision and leadership in the merger process
- Chapter 5: How to decide on the profile of the ideal candidate firm
- Chapter 6: Researching the market
- Chapter 7: Frameworks for assessing ‘fit’
- Chapter 8: Creating the strategic narrative and making the initial approach
- Chapter 9: Identifying the issues
- Chapter 10: Accounting and financial issues in law firm mergers
- Chapter 11: Building the joint business case
- Chapter 12: Implementation planning and hitting the ground running
- Chapter 13: Culture and values integration
- Chapter 14: Managing change
- Chapter 15: Realising the merger dividend
- Chapter 16: A determined focus on clients
- Chapter 17: Key client management
- Chapter 18: Merger as a catalyst for a new approach
- Chapter 19: Carpe diem – The golden first six months