Kain Knight acquires Dubai based SettleFirst Consulting JLT

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18 September 2014


Kain Knight’s global acquisition

Kain Knight, one of the UK’s largest firms of costs lawyers, has acquired costs and debt management company SettleFirst, based in Dubai.

SettleFirst specialises in advising insurance companies, banks and other institutions on debt recovery and collections, and also works closely with the legal community in the United Arab Emirates.

Mitesh Modha, Kain Knight’s head of technical and special projects, is managing SettleFirst in the short term and is in the process of developing an enhanced business plan with the current SettleFirst team.

Kain Knight intends to develop SettleFirst’s existing income streams and also use the business as a platform to provide Kain Knight’s services to firms based in the UAE and throughout the rest of the GCC region.

To support this, a Kain Knight team, together with costs expert Nicholas Bacon QC from 4 New Square, is visiting law firms in the GCC during the week commencing 21 September to promote traditional costs services, as well as new services targeted at the alternative dispute resolution market including costs arbitration, costs mediation and pricing advisory services.

Peter Petyt, Kain Knight’s chief executive officer, said:

“The acquisition of SettleFirst is an important step in our growth programme, providing valuable geographical and service line diversification. There are compelling synergies between SettleFirst’s existing client relationships and Kain Knight’s target clients in the GCC region, and we intend to grow SettleFirst’s existing services alongside the provision of existing and new legal costs services.”

 



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We all know that nothing in life is certain. As the actor, director and philosopher Clint Eastwood once said: “If you want a guarantee, buy a toaster.” He also said he’d tried being reasonable and didn’t like it. They should teach this kind of philosophy in law school. One thing in life is reasonably certain though. If you’re a law firm worth your salt, at some point you will be approached by another entity (most probably a work introducer) with a whizzy idea to ‘partner’ with you to ‘help you accelerate your growth’. In commercial speak this means, ‘we’d like to keep feeding you work but we’d also like to share in your profits’. The arrangement may be pitched to you as a joint venture – a win-win no less.

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