Practice strategy - making mergers work
Ian Johnson, Legal Team Manager at Hazlewoods LLP, considers what’s needed for a successful merger.
Over the past twelve months or so, as more and more practices have begun to see some signs of recovery/stability, we have seen a much greater interest in the idea of merging with other like-minded practices, and have been advisors in many more mergers that have made it across the finish line.
As everyone reading this will appreciate, in many cases, part of the desire to merge has been to grow the existing practice. However, many need to find a short-term exit strategy (and one that avoids very costly run-off insurance).