Ashurst: Looking for US expansion for many years
A well-known Midlands law firm being sold following a pre-pack administration and a huge transatlantic merger lead the way in the latest M&A news.
Leamington Spa-based Wright Hassall was sold to HCR Law last week in the pre-pack, adding 120 lawyers to the latter, which now has more than 1,000 staff across 12 offices across the country, none north of Birmingham. The combined turnover is £112m.
HCR Law has provided no information on what is happening to non-lawyer staff. Only seven lawyers have not moved over.
Debt collection firm QDR Solicitors, which previously formed part of Wright Hassall, was not included in the deal.
According to Companies House records, QDR is now owned by Gemma Carson, who was Wright Hassall’s head of commercial litigation.
Wright Hassall’s now former managing partner, non-solicitor debt recovery specialist Phil Wilding, is also a director of QDR, as is Rhys Jarman, who remains a litigation partner at what is now HCR Wright Hassall.
All of Wright Hassall’s other partners have resigned their directorships of QDR.
An HCR spokeswoman said Wright Hassall had “experienced financial difficulties due to challenging trading performance and needed to restructure to move forward”.
Wright Hassall’s most recent published accounts, for the year to 31 March 2024, showed post-tax profits up 39% on the year to nearly £1.9m, split between 17 partners, although turnover was just up 3% to £17.7m. Turnover has remained flat in recent years.
Sam Payne, joint head of HCR’s Leamington Spa office, said: “This is about building on shared strengths and creating new opportunities for our clients and staff.”
HCR’s last acquisition was much smaller specialist London healthcare firm Ridouts last year, again after it went into administration.
City firm Ashurst is to merge with Seattle-headquartered US firm Perkins Coie, to create a top-20 global law firm named Ashurst Perkins Coie.
It will have 3,000 lawyers working in 52 offices in 23 countries, with “flagship hubs” in Seattle, London, Sydney and New York.
In a statement, they said that was a “combination of equals” that would look to “leverage the power of AI to transform the practice of law and help clients harness it effectively to accelerate their growth”.
Bill Malley, managing partner of Perkins Coie, said: “Today, our clients face challenges and opportunities that are not only global but also increasingly complex. To meet this moment, we must strengthen our ability to deliver trusted legal guidance seamlessly across borders.
“Ashurst complements our geographic reach and capabilities and shares our ambition to build a firm defined by ingenuity and collaboration.”
Paul Jenkins, global CEO at Ashurst, added it had been looking to grow in the US for “many years”.
In Yorkshire, employment law practice Han Law Co has merged into Inspire Legal Group, doubling the group in size to 32 people.
The group operates two existing legal brands: fee-share law firm Inspire Legal, and Inspire Crypto, which works on the recovery of missing crypto assets through scams.
Han Law Co’s founder, Hannah Strawbridge, joins the group as head of legal, a director and a shareholder.
Natalie Foster, group CEO of Inspire Group, said: “Hannah’s energy, expertise, and values align perfectly with Inspire’s, making Han Law the perfect fit for us to enhance our offering and capabilities.”
Ms Strawbridge said: “Natalie and I share a vision for modern, accessible legal services, and we are proud to build something truly special here in Yorkshire. We are united by our shared values, and a forward-thinking approach.”
Finally, central London firm Hamlins – which last year said it was looking for more deals after buying entertainment practice Swan Turton – has acquired the corporate team from City firm Maddox Legal.
Joss Alcraft is moving across with his associate; his fellow Maddox co-founder, Mark Archer, was going to join too, but he passed away last month.
Hamlins managing partner Matthew Pryke said: “Mark’s passing is incredibly sad for all who knew him and we send our heartfelt condolences to Mark’s family, alongside Joss and everyone at Maddox Legal, during this difficult time.
“We welcome Joss and Sacha into the Hamlins family, and we are excited to continue to deliver on our five-year plan for growth.
“We have further acquisitions in the pipeline, with plans to bring in teams that complement our core areas of expertise and align with our cultural values.”
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