Law Firm Acquisition Advisor
When acquisitions are a big part of your growth strategy, you need objective advice, more than ever.
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Law firms can only grow two ways: Organically or through acquisition.
Many law firm leaders spend a large portion of their time focused on using either a bolt-on acquisition strategy or lateral hires to grow their top-line revenue and firm profits.
At first glance, an acquisition of a known rainmaker or successful practice group can seem very attractive to both the acquirer and the acquiree.
When the numbers look good, it’s hard not to glaze over potential red flags.
Done successfully, programmatic acquisitions can be the fastest way to law firm growth.
Done wrong, they can be a huge drain on resources, firm culture and profitability.
Our advisory practice works exclusively on smaller acquisitions (1-20 attorneys).
We focus primarily on your development of a strategic plan to stand out with your offering and to consistently attract the right people.
Why choose Black Sail?
Few people have more on their plates than someone running a law firm.
An outside perspective from someone who has been on the inside is extremely valuable and the investment is nominal compared to the cost of getting it wrong.
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We know law firms.
All things are not created equal. Law firms are not like every other business.
Understanding what motivates attorneys and drives them to act is uniquely valuable.
We have 360-degree experience working on small group law firm acquisitions; from stakeholder interviews to deal negotiations through successful integration.
We use an assessment process grounded in science, combined with 15+ years of law firm experience.
The numbers are the easy part. It takes multiple perspectives and insight from many people to make the best decisions. Although going with your gut may work some of the time, our process lets you be more precise in evaluating culture fit, strategic alignment and client portability. A more thorough approach to mitigate your risks. Better questions, better outcomes.
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How we work:
We work as a sounding board and a guidepost to managing partners as they navigate the uncertainty of how to successfully approach their acquisition growth strategy.
We generally work 1-on-1 with managing partners and meet weekly to formulate a strategy and put the pieces of the plan together.
Depending on the systems and processes that are already in place, recommendations will be made for the internal work that needs to be done prior to an action plan being executed.
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Engagement Details
Length of engagement:
- Acquisition growth strategy: Ideally follows the 90-day reset. Subsequently, 2-3 months for acquisition plan formulation and delivery.
- Or as a stand-alone service depending on systems and processes already in place. 2-3 months.
- Deal review package: 2-3 months.
Time commitment needed:
This engagement is working collaboratively with the law firm principal throughout the acquisition process and his/her acquisition team, if applicable. Time required depends on how aggressive the acquisition strategy is.
Cost:
Acquisition growth advisory:
$25,000 flat fee.
Deal review package:
$15,000 flat fee.
Payment Terms:
Payment is pre-paid in full or prepaid, split into monthly payments for the duration of engagement.
ACH is the preferred method of payment. We also accept credit card payment. (+processing fee)
Ready to gain clarity
and make decisions faster?
Talk to us