LMS Merger, Acquisition and Organic Growth Toolkit
The LMS Achieving Growth through Merger, Acquisition and Organic Growth Toolkit is designed to help publicly-funded firms develop their practices during a period of uncertainty and continuing pressure on profitability. Many of the principles are also equally applicable for private sector firms.
Much has been written in recent years since the publication of Lord Carter’s report on legal aid procurement regarding the need for firms to become larger in order to be viable and in 2007 the Law Society published the Mergers Toolkit (available from the LMS e-shop) to assist firms in the process.
This guide develops the themes from the toolkit, and provides further advice on how firms should tackle the process of achieving growth. This guide comprises a number of sections dealing with different aspects of how growth is actually achieved and examines issues such as: why firms need to grow; the main strategic options; how to decide a way forward; the Legal Services Act; the Legal Services Commission’s policies and contracts on opportunities for growth; different business models; and management implications.