Retiring Partners
Over the course of nine months, we advised a boutique Orange County firm in transitioning an existing partner into the managing partner role as two senior lawyers prepared for retirement. We worked with the firm’s partners to reach an agreement that transferred ownership of more than 50% of the firm’s equity to younger partners. The agreement enabled senior partners to stagger their departure so that the firm could afford to purchase their equity, also creating a smooth and organized transfer of clients.
Managing Partner Search
When an elite Los Angeles rainmaker looked to slow down and shed management responsibilities for a firm she fully owned, we worked with her to elevate a long-time associate to the ranks of equity partner. We facilitated a series of individual and joint meetings with the two partners to discuss options including having an associate take over managerial duties and hiring an outside managing partner. Within eighteen months, our client decided to merge with a larger firm.
Expiring Lease
The three equity partners of a Bay Area firm wanted to re-evaluate the firm’s future following the COVID-19 pandemic. Not wanting to renew their pricey San Francisco lease when it expired in sixteen months’ time, they brought us on board to consult on how to move forward. Following months of internal discussions, we assisted the partners in separating amicably, with one retiring, one joining another firm, and the last establishing his own practice with some of the firm’s existing staff.