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M&A Activity in the PI Market - Lesley Graves, Citadel Law

19/02/14. Fevered activity in the PI market has led many firms to consider their strategic future and so it seems an opportune moment to pause and reflect on some of the deals done to date and the options left for those that remain.

You could be forgiven for thinking we’re in the midst of a ‘PI dot-com bubble’. In some cases, misplaced confidence that the firms buying PI work will turn future profits where others have failed, coupled with an increasingly accessible finance to fund deals has created an environment where many are overlooking what is necessary to build credible and sustainable PI business models.

The Slater & Gordon approach of acquiring firms makes sense for what they are looking to achieve. They are providing the acquired firms with a platform to move into a larger market following years of hard work developing expertise, culture and brand.

Conversely, in interventions, pre pack deals and firm failures where a measured and strategic approach has...

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