Expansion

We get talent and scale from mergers.

- Angela Braly

Especially in this transformative era, expansion is a necessary element of many strategic plans because it enables firms to:

  • Enter new geographical and practice markets, thereby presenting their existing services to new clients
  • Strengthen their talent base in key practice areas
  • Develop new, market-driven practice areas in existing geographical footprints

Expanding firms also demonstrate to an anxious marketplace that they have momentum and are able to develop resources that can be used to implement necessary programs.

Mergers and lateral acquisitions are of course the two key means for immediate expansion.  In each instance, Identifying potential candidates is the easy part. More challenging are (1) ascertaining the “fit” from the standpoint of economics, culture and commitment to a shared goal, (2) developing and implementing the business plan, (3) identifying and resolving potential obstacles (including conflicts and the inevitable short-term costs), and (4) fully integrating the new additions and existing firm into a team ready to take full advantage of the vision that produced the combination.

The Firm Transitions team has significant experience in dealing with all of these issues, whether the law firm is pursuing a merger or a lateral acquisition.  Call for a free consultation.

Note: Firm Transitions is NOT a law firm. Any attorneys on our staff are NOT authorized to provide individuals or organizations with legal advice. 

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