Case study: Finding the solution to a blockage in a merger situation

merger blockage

 

Over the past few years, there has been a rise in law firm mergers and acquisitions; one of the main contributing factors being consolidation of the legal market with leading to larger firms taking the greatest share of the market.

This, alongside changes in the market, such as the extension of fixed costs, the whiplash reforms, Covid-19 and issues in obtaining professional indemnity insurance, has led to smaller firms considering their options, and choosing to merge with other firms.

We recently assisted a law firm, GID Solicitors, who faced some issues during a merger situation.

Problem faced by merging firms

The main issue being the fact that the firm they had agreed to merge with, did not wish to continue offering services in a specific market which GID were operating in at the time. Without a solution to this problem, GID Solicitors faced the risk of the merger being blocked.

 

Solution offered by Recovery First

GID Solicitors approached Recovery First for their assistance who provided a solution to help GID Solicitors transfer the live client files to members of the Recovery First law firm panel with the appropriate expertise, and exit this specific market before the merger took place.

 

Was our client happy with the outcome?

Following the completion of the merger, Nic Dowding from GID Solicitors stated the following:

“Recovery First assisted us by providing a solution to a blockage in a merger situation. They helped us exit a specific area of the market that the merged firm did not wish to continue servicing. We were particularly impressed by the customer service we received from Recovery First, and the fact that our client’s files were moved to firms with the specific skills and expertise to deal with their cases effectively. We would highly recommend the Recovery First model to anyone wishing to exit a legal market.”

How Recovery First can assist you

Whether you find yourself in a law firm merger situation, or an alternative, such as restructuring, Recovery First can help.

The unique scheme offered by Recovery First is suitable for law firms and professional advisors, including accountants, merger and acquisition consultants, restructuring and insolvency practitioners, corporate recovery specialists and private equity firms. Our services are suitable for all types of legal work, using a simple, ongoing process with no up-front costs.

We guarantee 100% confidentiality for all clients. If you would like to find out more about Recovery First’s process, feel free to get in touch today via email at david.johnstone@recoveryfirst.co.uk, or 07887796989, or contact Sally Dunscombe at sally.dunscombe@recoveryfirst.co.uk or 07774205870.

 

It's never too late to speak to Recovery First. Contact us now in the strictest confidence

Sally Dunscombe:

sally.dunscombe@recoveryfirst.co.uk

David Johnstone:

david.johnstone@recoveryfirst.co.uk

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