Thomas R. Palmer




1515 E. Woodfield Road, Suite 250
Schaumburg, Illinois 60173

Tom is an equity member of MPS and serves as outside counsel for several hundred business enterprises, professional firms, and entrepreneurs. His main areas of practice include mergers and acquisitions, corporate and business law, employment law, and estate and succession planning.

Tom represents clients that range in size from start-ups to established, multinational corporations, in such industries as insurance, finance, technology, healthcare, professional services, hospitality, manufacturing, distribution, and retail.

Tom is a regular lecturer at seminars and workshops sponsored by employers, trade associations, and professional groups. Topics he has addressed include preparing a company for sale, acquiring and selling a business, LLC operating agreements, buy-sell agreements, employment agreements, confidentiality and non-compete agreements, and business divorces.


  • J.D., DePaul University College of Law
  • B.A., summa cum laude, DePaul University


  • Illinois
  • United States District Court for the Northern District of Illinois
  • Sale of one of the nation’s largest independent insurance brokerages to an international, publicly-traded risk management and consulting company.
  • Sale to a private equity firm of 80% of the ownership interests of an industry-dominant proprietary software company with licensees throughout the world.
  • Sale of a wealth management firm to a Canadian, publicly-traded financial services company following a market-setting bidding process.
  • Sale of a commercial HVAC project and services contractor to a private equity firm for use as a platform in a subsequent industry roll-up.
  • Purchase of substantially all of the assets of several safety product distributors to facilitate a client’s expansion into a multi-state sale and distribution network.
  • Sale of the ownership interests of the long-time shareholders of a technology company to an ESOP established for such purpose.
  • Sale to a private equity firm of the ownership interests of an IT-security and network management services company and the assets of its Indian subsidiary.
  • Purchase of the ownership interests of a dissident shareholder of four affiliated companies to finalize the resolution of a contentious business divorce.
  • "Evaluating the Enforceability of Non-Compete Agreements," DuPage County Bar Association Journal, 1991.
  • Illinois State Bar Association
  • Chicago Bar Association
  • Northwest Suburban Bar Association
  • Schaumburg Business Association – Founder, Former Board Member, and Chair
  • Leading Lawyer in Illinois