Buyers

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What does TUPE stand for in your listings?

Quite often we refer to ‘staff for TUPE’ in our listings, and if you are not a lawyer you may not know what this is. Taillte Mallon, one of our specialist advisers, has prepared the following advisory note. What is TUPE? TUPE stands for Transfer of Undertakings (Protection of Employment) Regulations 2006. A ‘TUPE transfer’ […]

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Can I own a law firm if I’m not a lawyer?

Yes and no. If you are a qualified solicitor with more than three years post qualification experience, then in theory you can own a solicitors firm, regulated by the Solicitors Regulation Authority (SRA), and operate the firm yourself as well. If you are a qualified legal executive, then you can own a firm of legal […]

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How do you allow for owner drawings when valuing a law firm?

A common question in recent times has been how to calculate net profit when working out the price of a law firm and in particular relating this to the situation where a seller is also working as a fee earner and taking drawings or dividend out of the business. The key question is usually whether […]

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Where do I find a lawyer to complete my business purchase or sale?

Finding inexpensive or affordable solicitors to act for you in the sale or purchase of a law firm or accountancy practice can be quite difficult. Solicitors’ firms are set up to do commercial work, but the profitable commercial work is for large businesses and multinational PLCs and definitely not acting for SMEs! This means that […]

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What types of buyers purchase law firms and accountancy practices?

Who buys law firms and accountancy practices? Law Firms Law firm buyers fall into a few categories. Large investors buying into the sector, family buyers – purchasing for family members to take over and run a law firm, lawtech companies buying into the actual transactional side of the industry and companies in related sectors looking […]

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What factors make for an easy sale?

In relation to law firms, by far an easy sale is one where the seller has a realistic idea as to the sort of price a practice is worth. Not only that, they have also communicated quickly each time an enquiry has been made, they have got all the paperwork together ready to go each […]

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Do you get involved in negotiations?

Yes we do. We are happy to be as involved as the parties to the deal want us to be. Sometimes we have sellers and buyes who require our full input throughout. The seller will want us to communicate on their behalf with the buyer and their representatives and the buyer may well require us […]

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General FAQ's

Do you provide accountancy practice valuations? Are business brokers regulated? What underhand tactics do business brokers use? How secure is our data? Do you offer due diligence services?