Great business can be done in 2021, says Lorraine Smith
Judging by many of the economic horror stories in the media over the last 12 months you could be forgiven for thinking that business has come to a stand-still and that great merger and acquisition deals are a thing of the past.
I am happy to report that this is not necessarily so – and here at ORJ Law, we have a growing list of ambitious, satisfied clients to prove it.
While it is certainly true that the business landscape has changed in the wake of Covid 19, this should not signal the end of aspiration and growth for forward-thinking organisations. In fact, for those who are prepared to adapt and innovate, you may discover fresh, exciting opportunities for your business. But to do so, you will need a lawyer with the creativity and expertise to guide you and deliver the right solutions.
As always, the process begins with you, the client
Whether it’s buying a business, disposing of your business or merging with another company, you start with a general aspiration in mind: you know what you want to achieve – but you need the right support and expertise to secure an enforceable, coherent agreement that is right for you.
A case in point
A recently completed transaction illustrates this point well: at ORJ we act for a prominent membership organisation in the travel industry. Prior to the pandemic, our client was set to buy up a travel business in the south of England. The proposed deal, worth in the region of £2 million, included a number of individual retail shops.
Like thousands of other transactions, the proposed deal stalled in the wake of Covid – in this case literally days ahead of completion.
Rather than simply walk away, however, we believed there was still good business to be done. So, by restructuring the agreement, we were able to reach a conclusion which satisfied all parties and delivered outstanding value for our client.
Partnerships built on trust
Our approach is certainly not to conclude a deal ‘at all costs’. We always work with our clients to assess the risks and benefits of any agreement, acting as trusted custodians of their best interests. As such, there have been occasions where we advise clients to discontinue their interest – even though we could have gained from their intended transaction.
This caring and responsible approach may mean forgoing easy profit in the short term. But it instils trust and confidence in our clients, resulting in longer, mutually beneficial relationships. Our clients certainly value this type of relationship and, as a lawyer, it gives me great satisfaction to work in partnership with so many genuine businesses, helping them achieve their goals.
Lorraine Smith is a solicitor and director of ORJ Law, based in Stafford, Telford and Birmingham – specialising in corporate and commercial matters. To speak to Lorraine or one of her colleagues, call ORJ on 01785 223440.edit