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MERGERS & ACQUISITIONS

Merging? Protect Your Staff

Five young business people at work in an office setting.If your people matter, show it.

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

When a CPA firm acquires or merges in a smaller firm, it is common for the seller’s staff to be employed by the buyer.

MORE: Cherry-Pick Your Merger Partner | 34 Steps to Implement a Merger | M&A: The Six Types of Due Diligence | Why Solo CPAs Need PCAs | Where Mergers Go Wrong
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In this situation, there are two very important documents to be executed between the buyer and the seller’s staff:
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MERGERS & ACQUISITIONS

Merger Minded? Go Out on Top!

Hands raising wine glasses to toastIt’s time to be realistic.

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

An aging seller who has no successors on staff has four possible exit strategies:

1. Persist in eternally searching for smaller firms with bright young owners to merge in and eventually take over the firm. But ask yourself: Why in the world would a young, successful firm want to merge with a firm that’s older than dirt? Besides, every firm in the country wants to merge in a talented young firm. The competition is formidable.

MORE: Cherry-Pick Your Merger Partner | 34 Steps to Implement a Merger | Where Mergers Go Wrong | What Your Merger Letter of Intent Needs | 61 Things Buyers Should Explore with Sellers | Thirteen Ways to Woo Potential Firm Buyers | One Times Fees Isn’t the Only Way
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2. Continue the endless search for that young manager at a bigger firm who is disenchanted working at such a large firm and would jump at the opportunity to become a partner at your firm. Ask yourself: Why in the world would such a manager want to work for a small firm of old guys instead of joining a more vital, sophisticated firm with much more to offer?
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MERGERS & ACQUISITIONS

Cherry-Pick Your Merger Partner

Young businesswoman putting hand out in "stop" gesture while sipping coffeeIt’s OK to walk away.

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

For anything really important in your life, do you opt for the first choice that comes your way? Did you marry the first person you had a crush on? How many jobs did you accept without checking out other opportunities? When looking to hire someone, did you interview only one person? Do you make an investment without considering alternatives? I trust the answer to all of these is a resounding no.

MORE: 34 Steps to Implement a Merger | M&A: The Six Types of Due Diligence | Twelve Tips for Negotiating Mergers | Buying a Solo | Why Merging in Smaller Firms Is Fabulous | 13 Reasons to Merge Up | Thinking Merger? First Ask Why.
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The same advice applies to mergers, whether you are a buyer or a seller. The more firms you talk to and negotiate with, the more expertise you acquire with the merger process. As the saying goes, “Information is king.” More knowledge, information and experience are always better than less.
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MERGERS & ACQUISITIONS

34 Steps to Implement a Merger

Your staff will be much more comfortable.

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

Most firms find that it takes three to four years to fully implement a merger. But during the first few months after the merger’s effective date, there are quite a few administrative and procedural issues that need to be attended to immediately.

MORE: M&A: The Six Types of Due Diligence | Why Solo CPAs Need PCAs | Mergers: One Stage or Two?
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Most firms try to get as much of a head start as possible before the effective date.
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MERGERS & ACQUISITIONS

M&A: The Six Types of Due Diligence

BONUS: Ten surprises at the end of negotiations that can threaten a deal.

By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide

The scope of due diligence will differ depending on the deal and should be tailored appropriately. The letter of intent issues, combined with the six areas outlined here, result in a comprehensive list of due diligence procedures that should serve the needs of most CPA mergers.

MORE: Why Solo CPAs Need PCAs | Where Mergers Go Wrong | What Your Merger Letter of Intent Needs | 61 Things Buyers Should Explore with Sellers | Thirteen Ways to Woo Potential Firm Buyers | One Times Fees Isn’t the Only Way | Four Reasons to Fear a Merger
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

The six types of due diligence are financial and operational, clients and services, technical product and work quality review, personnel, risk management and legal.
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