What Every Law Firm Leader Needs to Know Before Acquiring: Tom Lenfestey, CEO of The Law Practice Exchange

GLF Podcast

Join Sasha Berson as he speaks with Tom Lenfestey, CEO of The Law Practice Exchange

👉 Sasha and Tom explore:

— The importance of strategic fit in law firm acquisitions

— Developing a clear acquisition plan aligned with growth goals

— The process of searching for the right acquisition opportunity

— Financial considerations and funding in law firm acquisitions

— Buy-sell agreements for solo practitioners and small partnerships

— The significance of thorough transition planning and post-acquisition integration

👉 Main takeaways from the episode:

— Firms should avoid stretching into new practice areas just because opportunities arise and instead ensure strategic fit with their goals.

— Solo practitioners can facilitate succession planning through buy-sell agreements with respected peer attorneys

— Valuation analyses are needed to avoid killed deals from unrealistic price expectations on the part of sellers

— Thorough transition planning and open communication between parties make post-acquisition integration infinitely easier

📰 About Tom Lenfestey:

Tom Lenfestey is the Founder and CEO of The Law Practice Exchange, a leading platform facilitating law firm sales, mergers, and succession planning. A practicing attorney and licensed CPA, Tom recognized the legal profession lacked resources for practice transitions. He founded LPE in 2013 to fill this void, providing services to guide lawyers through succession planning, exits, and acquisitions.

With vast expertise in evaluating law firm transactions, Tom consults firms on valuation, integration, and long-term strategy. As an accomplished speaker, he regularly shares insights with legal associations on topics including succession planning and law practice sales. Clients praise Tom for his expertise and personalized guidance.

📞 Connect with Tom Lenfestey:

• Website: https://thelawpracticeexchange.com/

• LinkedIn: https://www.linkedin.com/in/tomlenfestey/

• Facebook: https://www.facebook.com/lawpracticeexchange/

• Twitter: https://twitter.com/LawPracticeExch

📞 Connect with Sasha Berson:

• LinkedIn: https://www.linkedin.com/company/grow-law-firm/

• Instagram: https://www.instagram.com/grow_lawfirm/

• YouTube: https://www.youtube.com/@growlawfirm

• Facebook: https://www.facebook.com/growlawfirm

• Email: [e-mail]

• Phone: [phone]

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