Merging into a larger firm for growth, succession, back up support, new services
There are many reasons to merge into a larger firm and just as many not too!
Appropriate reasons to merge include seeking additional back up, ongoing support, succession needs that can't be solved strictly internally, additional cross selling of services, lifestyle, addressing your professional and financial growth, and giving yourself more options for your professional career.
You should not merge just to reduce overhead, nor if you cannot feel comfortable with increased accountability for partners, nor if the one theory powering this quest is bigger is better.
We start the process by helping you understand the value of your practice and your talents, the alternative deal structures available and the type of successor firm you should be looking for, based on your practice, its culture, billing rates, methodology of servicing clients, long-term goals, and more. We then prepare a confidential Practice Summary that represents your opportunity and is specific in regard to what type of practice you have and the type of affiliation you seek.
Once you have approved this generic description, we forward your information to our pre-screened potential firms that fall within your parameters. We do not disclose your identity to those firms that respond favorably until you have given your approval. We provide you detailed information regarding the firms that want to talk to you including the name of the firm, volume, location, specialties, ages of the Principals, and more. You decide with whom to meet and then your identity is disclosed only to those firms.
We establish a mutually convenient time for an introductory meeting of the parties. We then follow up and consult on every aspect of the deal as it progresses. This includes but is not limited to collecting proposals, planning due diligence, document preparation and transition planning. Our company's philosophy is not to tell you what to do, but to empower you with information on the various ways to handle and structure all the aspects of your deal so you can make decisions of what to do with more information and options than you realized existed. We understand the ins and outs of equity calculations, compensation, how to determine the best name for the merged firm to operate under, liabilities, and a plethora of additional items that need to be addressed in any merger.
Our partners have handled in excess of 700 successful closings and bring a significant value added to the equation. They understand this is the last and most important decision you make regarding your practice. They recognize this is a decision with many facets: financial, professional, and emotion involving clients, staff and money. Accounting Transition Advisors is there to guide you every step of the way. We do not require exclusivity agreements and we always work in total confidence.
Go to Mergers on the Services page for a complete list of services and deliverables. Our partners have consulted on over 700 closings using strategies that ensure you will meet the unique objectives your firm has when pursuing a merger.
Contact us for a free, initial consultation. We also offer a free report on this subject with optional periodic e-mail follow-up that include news reports and/or relevant articles that can be forwarded to you with no obligation. Go to Contact Us page and request this in the comment section. For additional information, click the following link to an article our partners have written on the subject of mergers.
Considering a Merger? How's Your Ego? A 1999 article that provides an overview to various aspects of merging.
Make Your Merger/Acquisition Work: A 1997 article on initiating the process of a merger and tips for success.
Ready to Merge?: 2003 article that reviews merging to secure succession.
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