Outsourcing giant enters market with Optima Legal acquisition

Print This Post

16 September 2013


Robinson: accelerate growth plans

Outsourcing giant Capita plc has reached a conditional agreement to acquire Optima Legal Services pending the grant of an alternative business structure licence.

Optima delivers bulk debt recovery, litigation and property law services from offices in Bradford, Newcastle and Glasgow. The deal also includes its costs drafting subsidiary, Cost Advocates.

The deal will not come as a great surprise to the market given that in 2010 the Solicitors Regulation Authority decided that Capita and Optima were too closely involved with each other. Optima had to restructure itself as a result to distance itself from Capita.

Optima will now become part of Capita Legal Services, a new, wholly-owned subsidiary of Capita plc, to provide regulated and non-regulated legal services for lender, insurance, government, legal, and corporate markets.

James Cowan, head of Capita Legal Services, said: “Because of the way globalisation and the recession is driving the agenda towards efficient, effective and value-for-money services, clients require greater streamlined legal panels and more effective in-house legal teams.

“The proposed acquisition of Optima Legal will create a 600-strong legal services team, with 150 legally qualified personnel and 50 solicitors, adding scale, depth and range to the legal services we are able to offer law firms, insurers, financial services companies and the wider corporate sector.”

Philip Robinson, senior litigation partner at Optima, added: “Capita’s ownership will allow us to accelerate our growth plans and build a stronger business and service proposition.”

 

Tags: ,



Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

The skills shortage in law firms is the biggest threat to handling cybercrime

CLC Roundtable discussion at Malmaison Hotel, Charterhouse Square

The skills shortage in our businesses is the biggest threat to our industry when looking at cybercrime. Cybercriminals are not just after money but are looking for sensitive information too, so the legal services sector is an obvious target. In the last year we have had reports of around £7m of client money being lost to such crime. This is not an IT issue and it should not be left to the IT teams to sort out. It is a high-level responsibility and a board-level issue that must be taken seriously. We suspect that we will look back on 2016 and ask why we didn’t respond quicker.

March 21st, 2017