North West solicitor and Grant Thornton accountant team up for new M&A enterprise

The former managing partner of law firm SAS Daniels has teamed up with a senior accountancy professional to launch Mosaic M&A, a joint venture specialising in helping law firms and barristers’ chambers get mergers and acquisitions over the line.

Nigel Haddon, who spent nearly 20 years at SAS Daniels, has formed the joint venture with Howard Hackney, Grant Thornton’s former North West head of professional practices.

Mosaic M&A will provide expert advice to barristers’ chambers and senior management teams at law firms across the country that are planning for mergers and acquisitions. The joint venture will support sole practitioners to firms outside the top 50.

Research from the Law Society indicates that one in three law firms expect to merge with another within the next three years to refocus their businesses in order to adapt to challenging market conditions and ensure long term stability.

The financial benchmarking survey also warned that a third of firms will need to restructure their business to survive.

Howard Hackney spent over 25 years as a partner at Grant Thornton UK. During his career, Hackney has advised on a number of notable transactions, most recently including Slater and Gordon’s acquisition of John Pickering and Partners.

Nigel Haddon spent nearly 20 years at SAS Daniels. During his eight year tenure as chief executive at the firm, he oversaw several acquisitions including Richard Lee Solicitors (2007), Berry & Co (2011), and TWP Solicitors (2012).

Haddon is the former chair of The Law Management Section of The Law Society and is the current editor of its Merger Toolkit.

Haddon said: “There is no doubt that the legal services sector has experienced seismic changes in recent years, notably following the Jackson reforms and Legal Services Act.

“It is a fragmented market, with over 10,000 firms, which is poised for further consolidation right across the spectrum. We also expect continued consolidation among barristers’ chambers as they bid to cut costs and respond to competition.

“We are bringing something new to the market in M&A support for legal services. Combining my experience in the sector with Howard’s financial expertise, and our joint experience of mergers of professional firms both from the inside and as external advisers.

“Mosaic M&A will be there to help management teams navigate their way through what can often be the most challenging part of any managing partner’s career.”

Hackney said: “With more than half of transactions failing to meet their objectives, Mosaic M&A is committed to working with law firms from across the country to manage acquisition, merger and exit strategies and help to ensure success.

“Nigel and I will work on assignments personally and our experience in working with both small and large firms will be integral to understanding the needs of all parties and getting deals ‘over the line’.”

The joint venture has been formed between the Nigel Haddon’s and Howard Hackney’s respective firms Nigel Haddon Consulting Ltd and Howard Hackney LLP.

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