An interesting case study – a failed merger with a successful outcome! Though many mergers work on paper, a significant number are destined to fail due to cultural differences. In this instance, Firm Ideas was the lead advisor to a potential merger between two medium size law firms. One had a succession problem and the other had invested heavily in ICT and was less profitable.
Firm Ideas organised a workshop away from both offices starting one Friday afternoon and finishing lunchtime the following day. It was structured and led under our guidance and involved group exercises such as ‘envisioning’ the proposed merged firm. Naturally the participants were in mixed groups. By the end of the event it was apparent that the merger simply could not work. It was also clear that one of the partners in the firm with the succession problem was better suited to the culture of the other firm! And that is where he went, which in turn has made his old firm more harmonious.
Firm Ideas prevented a great deal of misery that would have ensued for the partners and staff of both firms had this merger gone ahead.