Selecting the right alliance partner - not random liaisons
Legal markets are more competitve and more complex, consolidation and globalisation continues. While past alliances were sometimes agreed over lunch and toasted over cocktails, these days a more structured approach is required.
Where required, we can assist a firm in developing the strategic logic for a merger or alliance and reviewing the various options. An increasingly wide and varied set of options are on offer from the international firms. In many cases, buy-in is required from the wider partnership.
With clarity over the objective, we assist firms as they make a selection of potential alliance and merger partners, or alternatively as they respond to a potential suitor. If preferable, we can also make the initial approach - on an anonymous basis if required.
In order not to damage relationships, we often complete the due diligence process - asking some of the more challenging questions around finances and clients - while also providing an outside perspective.
Our experience in merger negotiation makes the process more successful, through equity and remuneration issues, structure and governance, and the partnership agreement. And as outsiders, we can ask those challenging questions without any potential threat to good relations.
Not all mergers deliver on their promise - the hard work doesn´t end with signing an agreement. We regularly develop workshops for partners, assisting them in reviewing the new opportunities, developing and then putting into action their vision for the new firm. Part of this is about getting buy-in from all partners to the new approach - whether that is at a firm, practice, industry group or client level.