Growth through acquisition

We advised a firm of accountants on the acquisition of a number of smaller practices.

What happened?

To drive the firm’s growth strategy our client had identified a number of potential acquisition targets with complementary practices, all either partnerships or LLPs.   

How did we help? Whilst financial due diligence was carried out in-house, we prepared a “red-flag” legal due diligence report on each target together with a business purchase agreement adapted from a pre-agreed template which we had drawn up in advance with the client. We ensured that any historic liabilities were adequately covered by run-off insurance and advised on the accession of the various sellers to our client’s partnership deed, each with a distinct remuneration structure based upon their client book’s contribution to our client’s future business.  Having made five acquisitions, our client’s increased service offering and enlarged client base resulted in improved financials which exceeded their strategic targets by some margin.