MERGERS AND ACQUISITIONS - Levy Gee and Leonard Curtis scrap merger
Merger talks between Levy Gee and insolvency practitioner Leonard Curtis have collapsed after months of negotiation failed to achieve a ‘meeting of minds’.
The link-up would have created the largest insolvency practice outside the Big Six. Talks were in full swing in June and the firms expected to clinch the deal by the end of summer.
But it is understood that Leonard Curtis’ nine partners rejected the idea of being a smaller part of 35-partner Levy Gee, which wants to expand.
Keith Goodman, senior partner of Leonard Curtis, said: ‘The talks gave us a chance to look more closely at ourselves. We’ve realised that our independence is our strength. As a specialist firm it is right to keep it that way.
People don’t want to see other services in our shop window.’
Julian Synett, Levy Gee’s managing partner, explained the discussions had been suspended by mutual agreement. ‘Merging professional firms requires a significant meeting of minds and strategy. Both firms need to want the same things and it has to be advantageous to clients,’ he said.
Both firms confirmed they are considering other merger candidates. Levy Gee’s Synett added: ‘It isn’t about being a certain size, but about strength in certain areas. There are some target practices which we will continue to look at.’