News

Understanding Options, Layers, & What Creates a Premium

Written by Bob Lewis | Jun 24, 2025 4:56:17 PM

First Step

Determine if selling/merging is your only real option

Is internal succession more of a hope than a viable plan? The landscape is complex, with firms struggling to remain independent due to a variety of reasons. Perhaps the most challenging reason is that firms are selling internally at a material discount in this market.

Second Step

Three core options exist if you need to sell or merge upward

Differences exist inside each. Traditional independent firms, private equity groups, and hybrid organizations all offer unique options. The differences go far deeper than just the financial components of the transaction.

Third Step

Layers exist within each of these options

Inside each option, additional layers like infrastructures, growth strategies, and management autonomy exist. A firm without a presence in a key market may pay a premium to establish a geographic platform or to expand a specific niche.

 

Our team of professionals, who have conducted hundreds of transactions across all of these deal structures and firm sizes, can walk you through what each option could look like for your firm in today’s market.