Many smaller or solo practitioner BV firms may miss the “merger mania” that’s currently sweeping the profession (see BVWire #110-2). There are many of these practices, most often “’single-shingle shops,” says John Borrowman (Borrowman Baker) “that face the same desire or need to transition ownership, but who aren’t going to be acquisition targets because of size, geographic location, or other constraints. These owners have an option to their ‘heir apparent’ approach,” he adds. “It’s not easy, and it’s not for everyone. But it can be a way to squeeze just a little more value out of a practice before you turn out the lights and lock the door for the last time.” Read Borrowman’s article, “Exit Options,” for more on the topic.
“Obviously, I’d like to hear from practitioners in that category and/or younger professionals who might like to jump-start their path to ownership,” Borrowman says. E-mail him here.
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