Market monitor
Gateley eyes acqusitions as it says listing will give “first-mover advantage”
National law firm Gateley has today formally announced its intention to float on AIM, saying the “first mover advantage” it will gain by being the first listed law firm will provide “a platform to expand and diversify”.
Gateley confirms that work has begun on becoming first listed law firm
National law firm Gateley has confirmed reports that work to become the first publicly listed law firm is underway after it appointed bankers to advise on a £130m float on AIM this summer.
Cambridgeshire financial advisers use ABS to buy law firm
Cambridgeshire financial advisers Beacon Wealth Management have used an alternative business structure to buy a local law firm. Tony Larkins, managing director of Beacon, said it had always been his aim to own a law firm and accountancy practice.
Ambitious firm combining law and accounting nears national coverage with triple acquisition
Fast-growing HCB Solicitors and Chartered Accountants has announced the purchase of three more law firms this week as it closes in on its ambition to have national coverage. They take its national tally of offices to 26 and staff to around 350.
First4Lawyers moves beyond PI with consumer law offering
Leading marketing collective First4Lawyers – which has hitherto focused exclusively on personal injury and clinical negligence cases – has expanded into six other areas of consumer law in a major new push supported by more than 2,000 television advertisements a month.
NewLaw vendors receive final £5m pay-out for sale to Redde plc
The owners of NewLaw Solicitors have received an issue of shares worth £5.16m as final consideration for its acquisition by Redde plc. Law firm-owning Fairpoint Group and Slater & Gordon have also issued stock market announcments.
More solicitors but fewer firms and partners, Law Society survey shows
The trend towards fewer, bigger law firms and fewer partners is continuing, despite increasing numbers of practicing solicitors, the annual Law Society statistical report has confirmed.
Slater & Gordon hits £456m share target to fund Quindell acquisition
Slater & Gordon has hit its target of raising £456m from a share issue to fund its acquisition of Quindell plc’s professional services division. Around 70% of the £637m initial purchase price is being funded through new shares, with the rest through bank debt.
Pioneering ABS seeing benefits of employee ownership
A groundbreaking alternative business structure that last year embraced employee ownership has seen the valuation of its shares rise 15% over the past 12 months. Staff at Triton Global each received a free initial tranche of shares and nearly two-thirds have since invested further to the collective tune of £58,000.
SME-focused comparison site plots “aggressive” expansion after funding boost
A lawyer comparison website aimed at SMEs is poised to begin an “aggressive growth” campaign to win market share, after securing substantial investment 18 months after it launched.
Blog
Why law firms are getting AI supervision wrong
The profession’s response to AI supervision failures misunderstands the nature of LLM output – there needs to be for a shift in the culture.
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
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