Clydes and Shadbolt lay foundations for merger

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  • Having now tried using consultants and also rebranding, it seems the only thing Shadbolts has not tried is a merger. The partners, and staff who are retained, must be hoping this will be a successful strategy. It all seemed plain sailing when Dick Shadbolt was there.

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  • It won't be long before the partners and staff of Shadbolts start to realise that this deal is not going to be as sweet as they thought. The rumour is that one of the Shadbolt EP's has just been given a coffee cream as part of the 'deal' - toys everywhere apparently! It's a shame Shadbolts have got themselves into a position where they need to be bailed out by Clydes - well done!

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  • As the toy cupboard has not been well managed for a while if it was a whole coffee cream some may consider that to be a rather generous offer!

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  • "Merger" - Is that where one firm (for the sake of convenience, we'll call it the "Purchaser") merges with the other firm (perhaps we might call it the the "Seller") in such a way that nearly all the equity partners of the Seller are demoted to salaried, and all its fee earners end up on salaries that are less than equivalent fee earners of the Purchaser? I believe it's called a strategic merger in the legal world.

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  • The best way for a small construction practice to ride out the recession is to get plenty of laterals in at partner level; they nearly always bring in plenty of work. If it hasn't been done already, make an employment lawyer the head of the construction practice. Then, try and get involved in as much of that profitable PFI work as possible. Whatever else the firm does, it should treat its founding partner with no respect whatsoever. That way, it won't have to trouble him for any sensible advice. Then merge.

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