Attractive firms in the top 50 U.S. cities are still able to find buyers offering a more than fair price. In those instances, the seller’s market is alive and well. However firms with less appeal could face some difficulty. With so many sellers flooding the market, buyers are able to cherry-pick the best firms and…

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Two Chicago area MPs recently talked to our roundtable about their experiences merging in smaller firms: Shelly Casella-Dercole, MP of 8-partner Eder Casella in McHenry, IL and Jon Segal, MP of 15-partner Kutchins, Robbins & Diamond in Schaumburg, IL (both Chicago suburbs). Each has completed several mergers and is very active in the merger market.…

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The massive CPA firm M&A frenzy of recent years will continue for quite some time.  But future sellers beware: the market is shifting from a seller’s to a buyers’ market.  Why?  (a) Buyers are more selective (b) Many buyers are flooded with sellers to cherry-pick (c) Many buyers need time to digest their recent mergers…

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Is the CPA firm merger market becoming a buyer’s market? As is so often the case, the answer is: “It depends.” For attractive firms in the top 50 U.S. cities it’s still relatively easy to find multiple buyers offering a more than fair price. In these instances the seller’s market is alive and well. However…

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The issue:  In a merger where each firm signs an NDA, there’s a  provision that precludes the buyer from soliciting the seller’s clients, with language similar to this: The parties agree that during discussions relative to a possible Transaction and for a period of 24 months after the conclusion thereof, neither party shall, without the…

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