Mergers & Acquisitions/Sales
A sale, merger or acquisition can be a make-or-break move—easily the most important in a career. There are any number of reasons to make such a move. And many reasons why partnering with a professional is better than doing it yourself.
Selling your practice on your own and saving the broker’s fee might seem smart. But before you commit to that, consider a few implications.
A professional who manages every step of this complex process—and has done so successfully for years—adds value in several ways:
- A far wider network of qualified prospects is available—immediately. No work required of you. No time wasted.
- You’ll have an accurate, impartial assessment of your firm’s or your target firm’s strengths, weaknesses, and true market value. That can lead to a higher sale price for your firm, a lower purchase price for your acquisition target.
- A practice “For Sale by Owner” feels like a practice that is not that desirable. It’s not the best way to attract buyers.
There are any number of reasons why sale or merger of your practice might be a profitable strategic move.
- Expand a current practice area
- Develop a new practice area
- Open up a new geographical territory
- Effect economies of scale
- Drive higher partner compensation
- Attract better staff through larger size and better compensation
- Fund partner retirement
- Create new opportunities for staff to learn new specialties
- Create more growth/profits
- Enhance ability to handle new regulatory burdens from within
We’ll give consideration to key issues including:
- What is the focus of the practice—and is this where you believe it should be?
- Why should a firm want to buy or merge with you?
- How successful have you been in generating new business?
- What has prevented you from being more successful?
If you’re interested in selling or merging your practice, we’ll:
- Meet with you in confidence to fully understand:
- Why you’re interested in this major change
- Your firm’s culture, profitability and long-term strategies
- Provide a confidential internal valuation for qualified sellers, free of charge
- Identify and discuss with you a very small number of target firms based specifically on your objectives
- Present your firm in confidence to agreed potential buyers, and if there is mutual interest, arrange a preliminary meeting
- Consult on deal structure and other issues that arise
If you’re interested in buying a CPA firm, we’ll:
- Meet with you in confidence to understand your firm’s unique culture, economics and growth strategies
- Exhaustively research the market to identify firms meeting your objectives
- Upon your approval, contact firms in confidence to initiate discussion
- Ensure the right fit with interested target firms via detailed, structured interviews
- Remain actively involved in negotiations, providing a sounding board to ensure forward momentum
- Consult with you regarding issues including:
- Non-compete agreements
- Retirement issues
- New partner admissions
- Technical and administrative transition concerns
Timing and valuation
Your firm’s value changes over time. Certain types of expertise come into and out of fashion; value fluctuates accordingly. Before any consideration of a major change, you must have a fair, expert, objective valuation. We provide this service free of charge to qualified sellers.
Robert Fligel, CPA
- New York City
- Two partner firm in NYC grossing 825k is seeking to merge due to succession issues. The firm provides tax and audit/accounting services to a diverse group of clients. This …
- New York City
- Tax partner- Estate / Trust and high net worth. CPA and MS, Taxation. Very stable mid-size firm experience and would bring a modest book of business.
- New York City
- Tax Partner in Charge. Due to an upcoming retirement. A well regarded 50+ person firm is seeking a Partner to lead their tax department. Strong management, technical and business development skills…