Case Study 01 - Retail Company
Private equity investment
Our client wanted to sell c. 15% of the equity in the company to a private equity house and needed corporate solicitors to handle the transaction. The client’s newly appointed Chairman had introduced it to a City firm which had quoted fees of c. £120,000.
We were able to scope out a solution with one of the City’s leading private equity law firms who quoted a range of £50 - £70,000 - a saving of up to £70,000. We were also able to offer project management support, allowing our client to remain focused on running its business during the process.
Case Study 02 - Insurance company
Employee Share Option Scheme and Share Buy Back
The client wished to return c. £800,000 of cash to its shareholders and offer tax efficient equity participation to its management team.
A number of options were presented to the client which resulted in them instructing a specialist "boutique" share option law firm with whom we negotiated a fully costed "schedule of works", timetable and capped fee. The work was completed on time with the client achieving 30% savings on fees of £17,000.
Case Study 03 - Cleaning Services Group
Company acquisition
As part of its expansion plans our client wished to acquire a rival business and needed corporate lawyers to handle the transaction. We introduced our client to a leading regional firm with which we negotiated a capped fee (discounted by 20% compared with its normal fees) and provided a roadmap setting out the key steps, time lines and associated fees.
Due to a tight deadline within which to complete the transaction, we project-managed the process - keeping the solicitors on budget and time throughout, thereby allowing the client to remain focused on running the business. Notwithstanding a number of difficult issues and one potential "deal-breaker" the transaction was completed within the deadline and on budget.
Case Study 04 - UK PLC
Legal Procurement Review
The in-house head of legal of a multi-site, diverse Group with c. 14,000 employees and with an annual employment related legal spend of £250,000 instructed us to perform a detailed analysis of their employment related external legal spend.
Our report concluded with recommendations as to the most cost effective and efficient way of managing employment law issues going forward, focusing on:
a) value for money and quality,
b) internal reforms which would lead to improved efficiency in the procurement of legal services, and
c) simultaneously reducing the need for as much external advice in the future thereby bearing down on the demand side.
Our client is now benefiting from savings in excess of 50% as compared to their previous spend through using our unique BAR Assist administrative support service which allows it to use a barrister to run all their Employment Tribunal cases, avoiding the need in most cases to use solicitors at all.