Over the last 2 years we have made 7 acquisitions in the market including our latest acquisition of Roberts Jackson Solicitors
We understand that there are many reasons why you would want to sell your law firm including:
- Cash Out and realise the value in your firm
- Introduction of new working capital and expertise to grow the firm
- Concentrate on servicing clients rather than managing a business
- Pursue other interests
There are many options for law firm owners who wish to exit, but a sale is still the most preferred option as it ensures that your employees and clients will be taken care of, which may not be the case with other possible exits. By acquiring your firm, we take on the successor practice liabilities and you are protected from an SRA regulatory perspective.
We have a flexible approach to acquiring firms and can tailor a deal to meet your needs.
Currently our focus is on acquiring the following types of firms:
- Acquisition of the whole of a Personal injury & mixed practice law firm. All areas of personal injury considered including RTA/EL/PL/Industrial Disease and Clinical Negligence
- Acquisition of a part of a firm, for example, firms who only wish to offload their personal injury WIP to concentrate on other areas of their business
- Personal Injury Firms who have done a partial run-down of their WIP book and would now like to sell the remaining parts (including firms facing solvency issues or threat of litigation) to new owners
A holistic approach and solution
We provide a holistic solution to firms wishing to exit the market and will consider taking employees/partners/directors as part of the deal.
For firms who are experiencing financial difficulty, our experienced team can help negotiate with any secured lenders and creditors to ensure you get a clean exit from the business.
We are able to conclude deals very quickly and there is no need for lengthy due diligence process.
What is the process to sell my law firm?Using our experience of handling many law firm transactions, we have refined our process and take the following key steps. We understand that not every sale/purchase will follow these steps due to circumstances which may be present.
- Contact AWH Solicitors
- Both parties sign a non-disclosure agreement
- We arrange to meet you at a time and place convenient for you to discuss what type of deal you are looking for
- We request basic information from you in order assess the proposition and make an indicative offer
- If a deal is agreed in principle then we undertake due diligence
- We confirm the offer to you and both parties instruct solicitors to draw up the sale/purchase agreement
Frequently asked questions
What is my law firm worth and how will a deal be structured?
When deciding on the value of your law firm we take the following key points into consideration:
- The value of your work in progress
- Profile of clients
- Brand Equity
- Any particular specialisms within your firm
- Other assets and liabilities
The list is not exhaustive and each firm is considered on its own merits. We always try to come to agreement on the key points before we undertake any due diligence in order to ensure that you are comfortable with the likely terms of any deal and wish to proceed.
Most of the deals we do involve a mixture of cash up front and a percentage on earn out. We take this approach as we appreciate that as a seller you need security and want money in order to be able to do other things.
How long will it take to sell my law firm?
On average, the sale of a law firm that we purchase takes 2-3 months compared to an average of 6 months for other purchasers.
If a firm is in a distressed situation, we are able to complete deals within 72 hours to ensure that a deal can be done before the threat of an insolvency or SRA intervention can take over.
What other services can you provide as part of the process?
We have built up a team of advisers who can assist you with any tax planning, regulatory reporting, employment law advice, corporate/commercial advice and insolvency advice if necessary. If you require assistance on any aspect of the sale of your firm, then please ask and we will be happy to assist.