Alternative business structures

City law firm Rosenblatt has launched a standalone litigation funding business with an initial £2m cash injection from the money it raised from its stock exchange listing in May.

The Co-op has declared itself the largest provider of probate services in the UK as its financials continue to improve. Legal services turnover in the first half of 2018 was up 31% and profits quadrupled.

Simpson Millar has unveiled a five-year £50m growth strategy to become one of a handful of consumer legal brands, starting with the acquisition of Liverpool practice EAD Solicitors.

A US class action law firm has used a new platform created by an alternative business structure to fast-track its UK launch, Legal Futures can reveal.

A Swiss law firm that specialises in arbitration work has received an alternative business structure licence to open up in London.

Knights Group – the Staffordshire-based law firm that listed in June – has secured bank funding to support its strategy to complete at least three acquisitions by April 2020.

Riverview Law is set for a huge global expansion over the next five years once EY completes its acquisition, the partner who is to head the new business has said.

Setfords – the consultant-led law firm with private equity backing – has secured its first-ever merger as it targets firms to speed up growth.

LegalZoom, the US-based online legal services provider that owns an ABS, has received a $500m investment – believed to be the largest ever in the legal world.

The State Bar of California has been urged to take the lead in the US in allowing non-lawyers to invest in and own law firms. It has agreed to set up a task force to investigate.