Merger News
17 Feb 2012
There have been major developments in the last month:
- Software and Outsourcing firm Quindell Portfolio acquired Silverbeck Rymer for £19.3m
- Duke Street Capital acquired a majority stake in Parabis for somewhere between £150m and £200m
- Slater & Gordon acquired Russell Jones & Walker for £53.8m
- Pinsent Masons announced they will merge with McGrigors on 1st May 2012
- DWF called off merger talks with Cobbetts
- Specialist debt recovery firms Drydens and Fairfax have announced they will merge
As of 19th January the SRA said there were 65 applications to convert to ABS. We believe that has now increased to close to 100 and the first approvals will be within weeks.
Everything we have seen so far relates to existing businesses growing or raising funding to grow. What we have not yet seen are any new exciting or disruptive business models. Law Vest, a business part owned by DLA is promising a “market-disrupting brand, pricing and service delivery model” There will be others.
For existing law firms the biggest brake on mergers and the development of new ideas is lack of funding. The question is whether private equity or other outside investors can fill the space that the banks clearly do not wish to enter.
What do we know? Change is happening now All firms have to respond by developing and implementing a strategy or they will be swept away.
Using good quality advisers can help you develop a strategy and implement it.
There are ways of structuring and restructuring the finances of firms to facilitate merger. There are sources of external funding.
We have a specialist merger business, 360 Jepson Holt, which can help with strategy, financial resourcing and restructuring, the finding of merger partners and facilitation of discussions.
Contact us to find out more. Please complete this short form and we will be in touch.
