Property Insurance Claims Law Firm

Property Insurance Claims Law Firm

Property Insurance Claims Law Firm
Property Insurance Claims Law Firm
41980265
Legal
Southern New England
1,100,000
1,610,000
364,000*
*SDE (Seller’s Discretionary Earnings) is net profit adjusted to reflect owner’s salary and benefits.
1990

Founded in 1990, this Southern New England based law firm primarily represents owners of commercial and residential real estate that are seeking claim settlements with property insurance providers. Approximately, 70% of the firm’s revenues are derived from fees generated through practicing this type of law. The rest is derived from a combination of personal injury, family practice and corporate law work. Most property insurance and personal injury litigation cases are taken on a contingent basis and the balance on an hourly fee basis. The backlog of potential recoverable fees from 35 on-going cases stands at $2.2 million. The firm has four active attorneys and five support staff. It is entirely owned by one of the attorneys. This acquisition is an excellent opportunity for any law firm seeking to expand their property insurance claims practice or enter into this area of the law. For any firm whose practice carries a high volume of injury case work, this acquisition would enable them to attract new clients and gain experienced attorneys.

The owner wishes to transition to retirement but is very willing to stay on for an extended period if not indefinitely on a semi-retired basis should new ownership seek this support.
: This is contemplated as an Asset Sale where all assets of the company will transfer over to the new owner(s) except for any cash on hand and accounts receivable incurred prior to closing. All liabilities and accounts payable incurred prior to closing will remain with the seller. Seller retained portion of fees from case files in progress at date of closing is to be negotiated.
Interested parties should complete the attached non-disclosure agreement and return it to VR Business Sales via email or fax. Qualified parties will be presented with a detailed confidential business review on the Company.
  • Property Insurance Claims Law Firm