Our client was seeking to acquire a smaller practice. This was to enhance their presence in a particular geographical location, to increase their fee level and to create additional value for their clients as a whole.

Prior to helping the practice expand through growth, the team at Foulger Underwood had been undertaking some prior consultancy work to improve the general productivity and profitability of both practice offices.

Foulger Underwood sat with the client and understood the requirements of both shareholders, including the boundaries which needed to be considered from the outset, on what would be acceptable to them as part of the deal and what would not.

Foulger Underwood spent a number of hours with the practitioner to understand the business, the type of clients, professional referral network and staffing requirements.  From this, a one-page teaser for the business was created as well as a fuller IM pack outlining the strengths of the business, the clients and the opportunities for growth going forward.

Over the course of a series of meetings, Foulger Underwood undertook a full strategic review of the business. A presentation of the business was produced to provide a comparison of the business to some of its closest peers, highlighting both the strengths and the weaknesses of the business. After a range of options were discussed with the Principals, it was agreed that the business would be sold and that the two Principals would exit over a 5-year period.