MCCARTHY DURIE ACQUIRES BOUTIQUE ARANA HILLS FIRM
12 April 2017, Written by Paris Faint
IN A move to boost its commercial and corporate business transactions team, McCarthy Durie has acquired boutique firm Eaton Lawyers based in Arana Hills.
The acquisition marks almost exactly a year since McCarthy Durie took over Toogoods Lawyers and merged its entire workforce into the firm's corporate fold.
Through these two deals and other separate developments, McCarthy Durie welcomed nine people into its ranks including four directors in the past 12 months.
CEO Shane McCarthy (pictured) says these acquisitions fit into his company's "slow and sustainable growth" strategy, creating more opportunities to grow the careers of staff members.
"The whole idea about our growth strategy is that we want to grow as part of a succession plan and create opportunities internally," says McCarthy.
"If we create more opportunities for equity, participation and directorship at the firm, as we grow we can bring on the legal expertise our clients are looking for and we can better affordthe resources which help our teams deliver solutions."
Commenting on the firm's untarnished rate of retention during the acquisition phase, McCarthy says there is simply no point to a deal if it doesn't leave space for every staff member.
"[When acquiring] you have to take the time to meet to the people, talk to the people and make your decision based on how those people at the acquired firm will fit in with your existing culture," says McCarthy.
"If there isn't a good match there, we really think 'don't do It'. Both parties must really want to do it."
McCarthy Durie has been running in Brisbane for almost four decades, a permanence that McCarthy puts down to a steady build.
"For us, it's always been about sustainable ongoing customer service with good legal solutions," he says.
"It's about slow and sustainable growth, not just growth at all costs."
For the rest of 2017, McCarthy and his team will be focused on embedding its newest additions into the firm's operating processes and projects.
The firm is also currently in talks with other law firms regarding potential M&A opportunities.
Author: Paris Faint