Looking for a buyer.
Dozens of employees and lawyers, millions in EBITDA, one of the oldest and largest law firms in NY in this niche. Multi-million dollar EBITDA ($2m - $5m). Been around and in the family for 50+ years, with a steady team, brand recognition, consistent clients, no significant concentration. Owner hoping to either retire or transition to retirement in the coming years. Depending on the arrangement of the transition, they would sell for ~3X. Willing to provide significant seller financing (25% to 50%). To the right buyer, seller is willing to be innovative about financing (equity, debt, time period, etc. staying on with a salary, etc.) if there are lender challenges. Buyer must be a lawyer because this is a law firm. Buyer does NOT need to practice law to run this company, which has other attorneys and needs a manager. ABA Model Rule of Professional Conduct 5.4: (a) — A lawyer cannot share legal fees with a nonlawyer; (b) — A lawyer cannot form a partnership with a nonlawyer if any of the partnership’s activities consist of the practice of law; (d)(1) — A lawyer cannot practice with a firm if a nonlawyer owns any interest in the firm; and (d)(2) — A lawyer cannot practice with a firm if a nonlawyer is a corporate director or officer in the firm.
listing type
personal introduction
industry
Business Services
location
NY
revenue
$10,000,000
ebitda
$3,000,000
To download teaser or contact poster, please sign in.