A London solicitors’ firm is continuing to grow despite the latest lockdown with the support of Lloyds Bank, and eyeing a doubling of turnover this year.
Ackroyd Legal was formed in 2016 and initially specialised in property law but has grown through an extensive acquisition programme to add commercial, corporate, employment, immigration and criminal law to its offering.
The firm has been supported by its long-term banking partner, Lloyds Bank, to acquire and integrate 11 legal practices and teams, with headcount growing from two to more than 100 in just four years.
Now, Ackroyd Legal is eyeing five more acquisitions in the first half of this year and anticipates that its current £7m turnover will top £15m within the next 12 months.
Having already provided the firm with a seven-figure loan to purchase its headquarters on Commercial Road and subsequent move to a second city location, the bank will also be supporting plans to further expand its footprint in 2020.
CEO Emon Ahmed believes Lloyds Bank’s steadfast backing of Ackroyd Legal’s ambitious growth strategy had been key to scaling up in challenging circumstances.
He said: “Since our inception, we’ve realised the value of not standing still and are constantly looking for opportunities to grow the business and add expertise to our team. Lloyds Bank shares that vision and has been by our side to advise on the best strategy, even during a global pandemic. Despite the current lockdown, we’ve arrived in 2021 in good health and more determined than ever to become a top 200 UK law firm.”
Andy Holmes, relationship director at Lloyds Bank, added: “Ackroyd Legal’s success to date is the result of Emon and the team’s commitment to constantly enhance and develop the services it offers. It now boasts a committed, 100-plus team with experience across a wide range of legal disciplines, and I have no doubt that the firm’s ambitious approach will see it continue to grow throughout this year and beyond.”