Alternative business structures

Regional practice becomes ABS to facilitate equity swap with Singapore firm

Ed Turner Taylor Vinters

A law firm has acquired an alternative business structure licence to facilitate an equity swap, as part of its bid to integrate with a firm of Singapore lawyers and comply with restrictive local laws on ownership. A regulatory rule change in Singapore made it difficult for the branches of foreign firms to operate.

May 22nd, 2017

ABS combining law, accountancy, finance, HR and more aims to be “doubly disruptive”

Richard Turner Alpaca

A one-stop shop for SMEs launched this week has set itself the goal of changing both the way legal and financial services are delivered and the way professionals work. By employing a “doubly disruptive philosophy”, it might be possible to break free not only of traditional business models but of traditional labels such as lawyer or accountant, the firm says.

May 17th, 2017

Slater & Gordon to sue Quindell vendor for £600m over “fraudulent misrepresentation”

Slater & Gordon sign

Slater & Gordon is to sue the company formerly known as Quindell for £600m on the basis that, but for fraudulent misrepresentation, it would not have agreed the deal that has almost brought the listed law firm to its knees.

May 11th, 2017

Engineering consultancy launches ABS – but hopes to avoid competing with law firm clients

Kamal-Chauhan-768x512

A leading provider of consultancy and expert witness services to the engineering sector has launched an alternative business structure (ABS) in a bid to add regulated legal services to its offering for corporate clients. The company is headed by the former senior partner of Wragge & Co.

May 11th, 2017

ABS targets continued expansion as ‘second cities’ strategy and non-legal services see turnover rocket

David Beech

Fast-growing alternative business structure Knights Professional Services is on the look-out for its next acquisition and ‘second city’ location – as well as more non-legal services – after unveiling an increase of more than 60% in turnover over the past year to £33.5m.

May 2nd, 2017

ABS turns thumping loss into profit with financial backing of corporate owner

Michael Warren 2

One of the country’s largest personal injury practices has highlighted the benefits of being an alternative business structure owned by a large business after the write-off of a multi-million pound inter-company loan, and an £11m cash injection, helped it turn a huge loss into a profit in its last financial year.

April 25th, 2017

ABS start-up led by CILEx Fellow bids for rapid growth

Glenn Wallis ABS Lawyers Ltd

A chartered legal executive has launched a start-up alternative business structure specialising in personal injury but with ambitious plans for expansion into a variety of legal areas, including sports law.

April 19th, 2017

ABS update: council bids to “commercialise” legal services, as virtual firm eyes investment

Peter Watson & Hilary Meredith

A local authority in Surrey is eyeing up an alternative business structure so it can “commercialise” its legal services in the wake of a partnership with another council coming to an end. Our latest ABS round-up also includes a virtual firm looking for investment to expand, a major deal for a leading probate ABS and a heavyweight appointment.

April 18th, 2017

Innovative corporate firm eyes external investment as it looks to offer non-legal services

Nigel Greenaway

An innovative Cardiff law firm has secured an alternative business structure (ABS) licence as it looks to private equity to expand what it offers the mergers and acquisitions market beyond legal services, with its corporate financier chairman also becoming a shareholder.

April 10th, 2017

ABS licence for FTSE-250 wealth manager highlights overlooked law firm acquisition

Bruce Newbigging

A second alternative business structure license handed to a FTSE-250 wealth management company has highlighted a law firm acquisition three years ago that went virtually unnoticed. It was given to Rathbone Trust Legal Services, part of Rathbone Brothers plc, a City institution with origins dating to 1742.

April 7th, 2017