IB Woman
Issue No. 37 - October/November 2007
Loretta listens to build business better
by Penelope Herbert
Loretta Reynolds likes helping people get ahead in life, which suits her position as a mergers and acquisitions partner with Thomson Playford, one of Adelaide’s leading law firms.
For most of us, M&A is played out on Hollywood film screens, usually by a slick ladies’ man or corrupt shyster, but Loretta is clearly neither as she explains her mergers and acquisitions practice is more about helping people buy and sell businesses or raise money for expansion.
“I didn’t enjoy law per se at university,” she admits, “but I did enjoy working with people. M&A is project-based so I work with a team including the seller, buyer and other advisors.
“A large part of my work is in getting to know the business and what its drivers are, so my inquisitive nature is well served. Different drivers can include the technology, the way the product is marketed, its customers, or the market itself.”
For instance, she finds that organisations where the owner may have a high profile and considerable impact on the identity and image of the business are more likely to be successfuly sold if the employee team is strong and committed.
“If there is an overriding sense that the service or product will not change or decrease in perceived value, then a business can attract new owners and continue to be a profitable and growing business,” Loretta says.
“This is harder with professional services businesses than, say, something you eat or drink, so the delivery of the service must meet all expectations.”
Loretta believes a successful business is built on teamwork. She thrives on challenge and working to deadlines, which is just as well. Loretta is now the Chairman of Partners at Thomson Playford, the first female Chair in the company’s 121-year history; a strategic role that incorporates their offices in both Adelaide and Sydney.
Loretta visits the offices and partners in Sydney at least every three weeks, sayi...
