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Armstrong Watson offer a proactive Mergers and Aquistions service specifically for the Legal Sector. Every two months we prepare and circulate a list of firms looking to acquire others, to merge or to be sold. We identify firms that match the criteria set out by those we know are seeking such amalgamations.
View the latest Mergers and Acquisitions Opportunities
Armstrong Watson will manage the process:
A proactive mergers and acquisitions service
All law firms of all sizes in all locations
Dependant on individual circumstances
Discovery meeting. Delivery of selected services as set out above. Meetings with clients and their merging party.
Bespoke fee options agreed at the outset.
Dependant on individual circumstances
Disposal
Advice on the offer from an acquiring firm; tax and structuring advice; and a commercial review of the acquirer
June 2024
Sale advice
Advice on the terms of a potential sale of a law firm to a large insurance company
June 2024
Valuation & Term Sheet
Produced a valuation and indicative term sheet for the acquisition of a national law firm
May 2024
Forecasts
Produced a set of integrated forecasts for a £40m turnover law firm as part of their review of cash flow
May 2024
Valuation
Valuation on behalf of another law firm for probate purposes and to review the price in line with any open market offers.
May 2024
Valuation
Produced a valuation of a law firm exploring a potential sale
May 2024
Disposal Advice
Commercial advice re calculating target net working capital for a law firm disposing their practice to a larger practice.
April 2024
Succession planning meeting
Advice to a law firm on their succession options, including a valuation, financial forecasts, potential exit and future integration planning.
April 2024
Valuation
Valuation to review potential options for the law firm.
April 2024
Acquisition search
Assessing and then contacting potential firms for a large law firm to acquire
April 2024
Acquisition search
Assessing and then contacting potential firms for a regional law firm to acquire
April 2024
Due Diligence
Undertook financial and tax due diligence for a private equity backed consolidator for their acquisition of a regional law firm
March 2024
Disposal
Full disposal mandate for a £2m high street law firm, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and and management through to legal completion
February 2024
Disposal
Full disposal mandate for a £3m full service law firm, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and and management through to legal completion
February 2024
Disposal
Full disposal mandate for a £4m full service law firm, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and and management through to legal completion
February 2024
Offer Review
Commercial advice on the terms of an offer and the make-up of the share purchase agreement for a law firm disposing their practice to a larger practice.
February 2024
Valuation
Produced a valuation of a law firm exploring a potential sale
February 2024
Disposal - Project Royal
Full disposal mandate for a tier one ranked law firm, specialising in family law. Assisted the client from initial marketing of the business through to the completion of the transaction.
January 2024
Financial Due Diligence
Financial and tax due diligence process for a private equity backed consolidator acquiring a £15m+ law firm.
January 2024
Succession Planning Advice
Advice to a law firm on their succession options, including a valuation, financial forecasts, potential exit and future integration planning.
January 2024
Capitalisation & Lock-Up
Review of the existing capital structure of a law firm and advice on an appropriate amount and mix of required capital.
January 2024
Valuation
Valuation to assist the two law firm owners in formulating their future business plans.
December 2023
Merger
Advice on the merger of two law firms, acting for both parties on potential merger mechanisms and the tax and structural implications.
November 2023
Disposal
Advised on the disposal of a c. £1.5m law firm. Including broking, arranging offers, assessing offers, support with due diligence and the legal process through to completion.
September 2023
Disposal
Advised on the disposal of a c. £4m law firm. Including broking, arranging offers, assessing offers, support with due diligence and the legal process through to completion.
September 2023
Partner Reward Options
Advised a c. £10m law firm on their options for rewarding and incentivising their partners.
September 2023
Acquisition review
Advised on the potential acquisition of a law firm, including an overview of the business pros and cons, the risks and a potential indicative offer.
September 2023
Acquisition review
Provided an assessment of a target for a law firm's potential acquisition. Including setting out potential acquisition terms.
August 2023
Board Conference Facilitation
Facilitation of a full day board strategy day for a large c. £50m law firm. Including setting vision, values and how to achieve future business goals.
July 2023
Valuation Review
Reviewed and commented on the valuation of a two partner law firm for divorce purposes.
July 2023
Partnership Offer Review
Reviewed and advised on an partnership offer for two senior people looking to become equity partners of a law firm.
July 2023
Disposal support
Commercial advice, tax advice and review of share purchase agreement for a two partner law firm disposing of their practice to a larger existing practice.
June 2023
Valuation
Formal valuation report for a sole practitioner to support them in their decision making process for a new partner buying in to their practice.
May 2023
Disposal
Full disposal mandate for a £3m private client practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and management through to legal completion.
March 2023
Valuation
Formal valuation report for a four partner practice looking to admit additional partners.
March 2023
Disposal
Full disposal mandate for a £3m private client practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and management through to legal completion.
March 2023
Due diligence
Formal due diligence on a target law firm for a private equity backed consolidator.
February 2023
Merger support
Supporting a professional business in its review of whether to merge with another similar business, including overview of the other business, support with provision of information and assessing offer terms.
February 2023
Acquisition search
Engaged basis for market research, analysis, targeting and contacting potential law firms for a private equity backed consolidator.
February 2023
Acquisition review
Initial high level review of target law firm, advising on offer basis and drafting Heads of Terms.
February 2023
Valuation
Formal valuation report for a two partner practice reviewing whether or not to dispose of their law firm.
January 2023
Acquisition reviews
Initial high level reviews of six potential target businesses for a large law firm to acquire, focusing on identifying value and risk; suggesting offer terms to be made to those businesses.
January 2023
Review offer
Review and advise a small law firm on an offer received from another firm seeking to acquire them.
January 2023
Drafting Heads of Terms
Advising on offer basis and drafting Heads of Terms for a cost draftsman client to acquire another cost draftsman business.
January 2023
Merger search
Engaged basis for market research, analysis, targeting and contacting potential law firms for a Middle East law firm to merge into.
January 2023
Acquisition support
Deal structuring, due diligence and forecasts for an international firm seeking to acquire a London law firm.
January 2023
Disposal
Full disposal mandate for a sole owned niche practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms, tax structuring and management through to legal completion.
January 2023
Disposal
Supported a long-standing law firm by arranging and securing an acquisition of the business by another local firm. Assisted with due diligence and then with the commercial aspects of the Asset Purchase Agreement and in project-managing the deal to completion.
December 2022
Valuation
Formal valuation report for a 4 partner practice looking to buy out retiring shareholder.
November 2022
Valuation
Formal valuation report for a 30+ partner practice considering the disposal of a division.
November 2022
Preparing for sale
Assessing a 4 partner practice re their attractiveness for an acquirer, including valuation thoughts and what may be done to make the practice more attractive and valuable ahead of potential disposal.
November 2022
Valuation
Formal valuation report for a director considering internal succession options.
October 2022
Valuation
Formal valuation report for a 2 shareholders looking to buy out remaining shareholders.
September 2022
Valuation
Formal valuation report for a 11 partner practice on their potential acquisition target, with suggested deal structure.
September 2022
Share disposal
Review of the share purchase agreement focusing on warranties and indemnities, tax covenants, consideration clauses and completion accounts – extended to advise on normalised working capital targets and treatment of cash and debt.
August 2022
Acquisition Support
Full acquisition mandate and ongoing support for repeat acquirer typically working on five transactions at any one time including initial overview of targets, valuations, advice on deal structure and offers, due diligence, and managing through to legal completion.
July 2022
Estate valuation
Formal valuation for a sole practitioner following their passing, on behalf of the executors.
June 2022
Valuation
Formal valuation for a 8 partner practice looking for a merger.
May 2022
Valuation
Formal valuation for a 3 partner practice looking to buy out a retiring partner.
May 2022
Disposal broking
Completing market research, shortlisting a number of potential acquirers and arranging indicative offers for a 6 partner practice looking for a disposal.
April 2022
Valuation
Formal valuation for a 2 partner practice looking for a disposal.
April 2022
Acquisition review
Assessing and reporting on a potential acquisition, including a formal valuation, of a practice on behalf of a firm considering acquiring them.
February 2022
Acquisition Support
Supporting international firm with its acquisition ambitions including initial overview of targets, valuations, advice on deal structure and offers, due diligence, and managing through to legal completion.
January 2022
Financial due diligence
FDD report for a private equity house on their acquisition of a regional firm.
January 2022
Valuation
Formal valuation for 3 partner practice looking to buy out a retiring partner.
December 2021
Disposal broking
Completing market research, shortlisting a number of potential acquirers and arranging indicative offers for a Irish practice looking for a disposal.
December 2021
Financial due diligence
Short form FDD report for a 14 partner practice on their potential acquisition.
November 2021
Valuation
Formal valuation of a partnership on behalf of a retiring partner to summarise their likely position.
October 2021
Valuation
Formal valuation for a sole practitioner looking to retire.
October 2021
3 partner practice disposal
Full disposal mandate of a 3 partner practice including broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
September 2021
Valuation
Formal valuation report for a 2 partner practice looking for a disposal.
September 2021
Preparing for sale
Assessing a sole practitioner re their attractiveness for an acquirer, including valuation thoughts and what may be done to make the practice more attractive and valuable ahead of potential disposal.
July 2021
Acquisition overview
Review of the benefits and risks and potential valuation of two potential acquisitions for a medium sized law firm, including discussion with the chief executive on how to proceed.
June 2021
Disposal
Full disposal mandate for a 3 partner practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
June 2021
Financial due diligence/legal completion
FDD report for a private equity house on their acquisition of a £7m practice. SPA review, deal structure advice, tax warranties review. Completion accounts review.
June 2021
Preparing for disposal
Assessing a sole practitioner firm re their attractiveness for an acquirer, including valuation thoughts and what may be done to make the practice more attractive and valuable.
June 2021
Disposal
Full disposal mandate for a 2 partner practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
May 2021
Merger Management
Managing the merger process for two law firms on a joint instruction, including exchanging information, suggesting deal structures and how the two firms can join operationally, tax impacts for both and using our merger checklist to ensure a smooth process.
May 2021
Acquisition overview
Review of the benefits and risks and potential valuation of a potential acquisition for a large law firm, including provision of report and discussion with the board on how to proceed.
May 2021
Disposal
Full disposal mandate for a 6 partner practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
May 2021
Disposal
Full disposal mandate for a sole practitioner, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
May 2021
Disposal broking
Undertaking market research, shortlisting a number of potential acquirers and arranging indicative offers for a 3 partner practice looking for a disposal
April 2021
Disposal
Full disposal mandate for a 2 partner practice, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
April 2021
Disposal
Full disposal mandate for a sole practitioner, including market research, broking with potential acquirers, provision of information, obtaining indicative offers, negotiating heads of terms through to tax structuring and legal completion.
March 2021
Disposal
Disposal offer overview for a 2 partner firm, negotiating heads of terms, facilitating transaction, APA review, tax advice and warranties review.
January 2021
Valuation
Formal valuation report for a 3 partner practice looking for a disposal.
January 2021
Merger/Due diligence
Negotiating and due diligence for a large law firm merging into another large law firm to create a 500+ person firm.
December 2020
Valuation
Formal valuation report for a sole practitioner looking to bring in additional owners.
November 2020
Valuation
Formal valuation report for a 2 partner practice looking for a disposal.
October 2020
Disposal search
Research of market for likely acquirers, contact with acquirers, preparation of mini Information Memorandum.
August 2020
Disposal
Completing the disposal of a £7m fee income practice into a larger organisation.
June 2020
Disposal
Advising, valuing, negotiating on the successful disposal of a £1m niche firm into a larger organisation. Including tax advice, deal advice, structure advice, legal document review and completion accounts.
May 2020
De-merger
Advising and negotiating on the potential de-merger of a 6 partner practice into 2 separate entities. Including respective valuations and mechanics.
April 2020
Managing a Merger
Introducing two law firms to each other then jointly engaged to manage a merger process, including use of our merger checklist and regulatory requirements
January 2020
Disposal Search
Research, advice and connecting a very profitable two equity partner firm with potential acquirers for a goodwill disposal. Including information provision. Engaged to complete deal with the preferred party
January 2020
Acquisition Search
Research, advice and connecting a larger law firm with firms that may be a suitable match for merger / acquisition
December 2019
Disposal Search
Research, advice and connecting a two partner firm to potential merger partners
October 2019
Disposal
Search, contact, negotiations, deal structure through to completion of a disposal of a legal aid firm to a large legal aid specialist
September 2019
PI Caseload Disposal
Introduction and arranging a deal for a large full service firm to dispose of their PI caseload and department
November 2019
PI Caseload Acquisition
Introduction and arranging a deal for a national law firm to acquire part of the PI caseload of a smaller niche firm
August 2019
Disposal
Disposal negotiations for a three partner firm to a private equity backed consolidator, including EBITDA calculations for a multiple based approach
July 2019
Valuation then Disposal Search
Valuation report then disposal search for a profitable niche law firm in Scotland
June 2019
Disposal
Disposal search, contacting, arranging, provision of information, negotiating and completing a disposal with goodwill of a large law firm to a national outfit
May 2019
Disposal Search/Process
Identification of and contact with potential acquirers of a seven partner firm, including data room, provision of information and deal negotiation
April 2019
Valuation for Acquisition
Valuation of a sole practitioner on behalf of a potential acquirer
March 2019
Merger
Background deal advice for a successful three partner firm in their merger discussions with a large regional player
January 2019
Valuation
Detailed valuation reports for a medium sized law, estate agency and financial advisory business
November 2018
Disposal/Investment
Disposal / investment search for a large niche volume specialist
August 2018
Information Memorandum
Preparation of a detailed information memorandum for a large law firm in connection with their potential disposal to a larger law firm
July 2018
Acquisition Search
Acquisition search for a private equity backed national law firm consolidator
May 2018
Deal Structuring
Advised a three partner niche law firm on their merger with a large international firm
April 2018
I started and have developed my career at Bromleys and make no secret of the fact that it plays a massive part in my life. That’s why it was so important to choose the right partner to help us unleash the potential that Bromleys has. That partner is MAPD. We are now part of a group that shares our values and ambitions for the future. This is an exciting time for our staff and offers us the opportunity to grow together whilst supporting our existing and new clients. Armstrong Watson's professionalism and determination really made a difference. We were very pleased that we had you on our side of the transaction as your approach, knowledge and organisation was exemplary.
Paul Westwell, Managing Director, Bromleys
Thank you one and all for your support – we could not have done it without you!
Ian Kennerley, Managing Partner, Silk Family Law
Thank you so much for your support and efforts in getting this past the post. I cannot put into words what this means to us. I have always felt in safe hands with you and I hugely appreciate your hard work and the speed at which you have dealt with things on our behalf.
Pam Thomas, Director at Bleasdale & Co Solicitors
Andy and his team structured this deal to enable me to transition my duties to others in a move towards my retirement. Andy found the perfect partner for us in MAPD who are clearly committed to supporting the firm in its existing structure, and providing expertise to help the firm grow, while maintaining its own identity and brand, which is very well known within Tameside and Greater Manchester. Andy had taken the time to really get under the skin of our firm and understand how we operate, which proved enormously helpful in getting the deal over the line. Throughout the process, he displayed a real in-depth understanding of how law firms operate. Thanks to Andy for all of his help, effort and assistance.
Mark Hirst, Bromleys
Having faced a number of approaches from law firms and companies over the years to acquire Pryers, it was important for us to wait patiently for the right opportunity with the right company to forge ahead with. Pure Legal undoubtedly presents that opportunity and I am delighted to get this deal over the line and I look forward to working with Phil and his team. Thanks to our Accountant, Andy Poole and his team from Armstrong Watson, for their diligent work. We were genuinely impressed with their advice and representation.
Ian Pryer, Managing Partner, Pryers LLP
Any merger process can be stressful, however, the support and efforts provided by the team at Armstrong Watson helped make the process as smooth as possible. The team were quick to respond to our queries and worked well with MAPD’s advisers to achieve a positive result for all parties.
John Cooke, Thomson Hayton Winkley
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