What makes a consumer law firm attractive to outside capital—and what separates a true platform from just a profitable practice?

Jeff sits down with Chris Batz of Columbus Street Consultancy and MergerWatch to unpack the rapidly evolving market for law firm M&A. Chris explains how private equity, family offices, and other investors are approaching consumer law firms, why MSO structures are opening new possibilities, and which practice areas are drawing attention.

They also dig into the metrics investors care about—from EBITDA and client acquisition to management depth, talent retention, and owner dependence—and why firms with $2–3 million in adjusted EBITDA can begin to look like viable platforms.

It’s a practical look at how investors evaluate law firms and what owners should understand before pursuing a transaction.

What does it take to grow a law firm through acquisitions instead of building everything from scratch?

In this episode of The J. Sterling Hughes Show, Jeff sits down with Tom Shipley, co-founder of DealCon and the Advisory Board, to explore a practical approach to law firm mergers and acquisitions.

Tom shares lessons from building acquisition platforms, including how to find motivated sellers, structure creative deals, and use acquisitions to increase business value. Jeff also discusses how Tom's guidance helped Sterling navigate its recent Florida acquisition, from negotiating terms to building trust with the sellers and resolving challenges before closing.

They also explore the economics of multiple expansion, the importance of understanding a seller's motivations, and why relationships can make or break a transaction.

A practical conversation for law firm owners considering acquisitions as their next stage of growth.

What does it look like when a non-lawyer entrepreneur partners with an attorney to build an MSO around an estate planning firm?

In this episode, Jeff talks with Tim about how the structure works, why the business logic is so strong, and why he expects to see many more of these deals. Tim shares the story behind the deal, including the 12-plus months it took to paper, the moment it nearly fell apart over ownership percentages, and how he turned it around.

He also walks through the AI operating system he's building for estate planning and elder law firms, how he thinks about valuing small firms (roughly 2x normalized earnings, with recurring revenue getting better treatment), and his plan to expand by bringing in other firms.

He closes with a warning on AI compliance, including why business associate agreements (BAAs) matter for any tool handling client data. If you're curious about MSOs in consumer law, this is a great place to start.