Slater & Gordon: Business continuing to reposition
Slater & Gordon (S&G) has raised another £10m of equity from its investors, it has announced, alongside a 51% jump in revenue last year.
Efforts to strengthen the national law firm’s balance sheet saw it raise £30m from shareholders in May 2025, before this May’s further £10m, while S&G also refinanced through a new £30m committed three-year debt facility with Harbour, of which it drew down £16m last year.
S&G, which has been owned by Anchorage Capital [1] since 2017, first struck a £33m funding deal [2] with Harbour in 2023.
Last year, it also paid off the £5.1m owed to VFS Legal, the finance business which went into administration in 2023.
The newly published group results for 2025 showed revenue of £109m, an increase of 51% in a year, while profit increased from £7m to £19m.
Operating profit was 11% lower than in 2024, “reflecting planned investment to support future growth”, it said. S&G spent £581,000 on redundancies and £1.1m on restructuring and refinancing costs.
The increase in overall profit for the year – it reported retained profit of £19m – included the recognition of a £14m deferred tax asset. S&G has £161m of work in progress, 28% more than in 2024.
Staff numbers fell from 888 to 824, including 406 fee-earners, down from 439 a year earlier.
The directors wrote: “During 2025, the group continued to execute its strategy of repositioning the business towards higher-value and more complex consumer legal services with particular focus on personal injury and group actions.”
The business saw double-digit increases in new multi-track and intermediate-track cases and “a significant number” of new motor finance redress.
Chief executive Nils Stoesser said: “These results demonstrate the strength of our strategy and the significant progress we’ve made in positioning the business to serve our clients.
“The increase in revenue reflects the scale of our investment, demand for our expertise and our focus on areas where we can offer our clients a differentiated service.
“At the same time, we’ve secured additional funding and continued to invest in our infrastructure and key relationships. This provides us a strong platform from which to ensure we can support our growth, resulting in robust bottom line financial performance.”