Start planning years, not months, ahead.
By Joel Sinkin
Every week we hear about another merger or acquisition.
There are many reasons firms consider merging.
The most common objectives follow:
- Talent is in short supply in today’s marketplace. Many firms are using mergers to add talent for growth and/or a tool to build an internal succession team for the long-term security of the firm.
- Cross-selling niche services: We are seeing firms entertain mergers that create strong cross-selling opportunities.
- Growth from having a larger platform of services, increased capacity and through the addition of the clients a merger brings.
- Marketplace refers to mergers that provide the successor firm a flag in a new harbor.
- Succession: A strong percentage of accounting firm owners are seeking to reduce their time commitment to their firm so succession remains the number one driving force of most small firm mergers. READ MORE →