Services
For Buyers
A Merger or an Acquisition - It's the fast-track
to practice growth, but the road ahead is laden with obstacles.
- Where
do you find the right blend of clients?
- What
would be a good fit for your firm?
- How
much should you pay?
- What
should the terms be?
- Should
you seek someone nearing retirement or someone who will
join your firm?
- Do
you buy a block of fees or merge with another practice?
The
answer is.... it depends. There is no 'off the shelf' solution.
Each firm has its own characteristics and objectives and
some will be compatible with others and some will not.
That's
why using an experienced hand in the process pays dividends
for you.
Identifying
target firms, making the initial approach, analysing differences
and similarities and bringing a potential deal to the table
is a time consuming affair.
The
modern practitioner hardly has time to deal with the day-to-day
operations of his or her practice, so how can you keep an
eye on the market for opportunities like this?
Our
retained M & A service is the solution. (It's the ONLY
way we work with buyers)
For
a modest retainer, we will work with you to identify the
right blend of clients, the right location and, ultimately,
the right deal for you.
---- * ----
To
save you some time, please do not...
...Please
- if you're visiting for the first time, let's get one thing
clear, as we have often been approached by many potential
buyers who are excited by a listing and email us saying
'please send me details of this opportunity... etc' - we
don't work that way.
We
work with buyers who pay us a retainer to go to market to
find them something very specific.
Our 'Practices For Sale' listing page on this site is not
inteded to be the way we attract buyers, and in fact we
have never done a deal by putting a buyer and a seller together
that way.
If
you are interested in buying a block of fees or a practice,
please call us at 905-842-2284 to get a real understanding
of how we work for buyers like you, what it costs, and how
long it might take, then decide if this might be for you.
----
* ----
It's
not a quick or simple process, which is why we only work
on a retained basis on these projects, and a realistic time
line would be anywhere between six and twelve months.
The
retainer (typically one third of the anticipated fee, based
on a percentage of the billings you seek to acquire) is
paid to commence the project and the balance is only due
and payable upon the closing of a deal.
By
working this way, you know the cost in advance and can budget
accordingly.
At the integration stage you also have an impartial third
party involved to assist in 'ironing out the creases' of
any conflict or uncertainty and a sounding board for staff
to raise any concerns.
Your
identity is also protected right up to the latter stages,
so the 'word on the street' does not effect how potential
target firms view you, your need or desire to buy or the
price.
Our
proven process for handling these delicate issues, a comprehensive
tailored documentation formula and reporting system covers
much of the necessary due diligence work. Topics covered
by our service includes:
-
a review of prior year results
- substantiating
the client base
- a
review of staffing levels
- billed
hours
- recovery
rates
- work
in progress
- receivables
- bad
debts
- professional
indemnity cover
- items
to be specifically included or excluded - such as property
& equipment
- price
sought by the vendor and any terms available
- and
much more
This
comprehensive and highly detailed body of work is then delivered
in as a written assessment for discussion.
 |
|
“Being
something of a history buff, it was great that Steve
found me a practice to acquire that was steeped in
history, it even had the original CA membership certificate
of the founder dating back to 1934 on the wall –
and it hangs there now as a proud artifact and a great
conversation starter!”
-
Michael Keltz, CA |
|
" When I engaged Steve to go out to the market
to find me a small practice to acquire, a colleague
advised me that the retainer he charged me might turn
out to be one of the wisest investments I made that
year. Turns out they were right!
Steve’s optimism and enthusiasm never waned,
even when it looked like we’d never find the
right deal.
He persevered and eventually found the partners at
Robert W Adams & Co, not a million miles away
from my own office, ready to retire.
In their late 60’s Ron and Gary had grown up
in this firm, from young ‘whipper-snappers’
to mature professionals, and were anxious to see their
clients handed on to someone who would look after
them as well as they had over the previous 40 years
or so.
We had several meetings to establish if this was the
right fit for both parties and then we sat down and
negotiated a deal.
Steve’s help in finding this practice for me
and then dealing with the negotiations saved me a
lot of grief and time, and helped all of us arrive
at a deal we were happy with.
Sure, there was some give and take on both sides during
the negotiations, and that’s where Steve’s
advice and assistance paid dividends in areas such
as help in putting together a confidentiality agreement,
a letter of intent, and even a draft sale/purchase
agreement and especially regarding client file retention,
which were all key issues for me.
Well worth the fees charged!
If you’re looking to buy a practice or grow
by merger, give yourself an advantage, get Steve McIntyre-Smith
and his team at MFA Group on your side.
I sure am glad I did."
MFA Group Inc wishes to thank Michael
Keltz, CA for his willing participation in this case
study.
|
Financing
Available
We
also have developed some great financing sources from a
Schedule 1 Canadian Bank who have a program specifically
for CAs buying into a professional practice that is head
and shoulders above anything else available on the market.
We can put you in touch with the regional head of this program,
effectively helping jump over your regular banker and straight
to the actual source, who will then work with your local
branch to get you all set up.
These
'priceless' contacts are available to you as a client of
our company.
To
discuss the costs or to arrange a confidential initial meeting,
please call our Steve McIntyre-Smith today, at 905-842-2284.
