Litigation specialists to become fourth firm to list on AIM


Stock exchange: Firm to be admitted next month

City law firm Rosenblatt is to become the fourth law firm to list on the London Stock Exchange’s AIM market, it announced today.

The 19-partner commercial law firm, best known for its litigation work, is to be admitted on 8 May, joining Gateley, Gordon Dadds and Keystone Law.

How much the firm is looking to raise has not been specified as yet, nor how much of the business will remain in private hands.

Founder and senior partner Ian Rosenblatt owns 55.4% of the firm at the moment. Cascades, an independent trust company of which chief executive Nicola Foulston is a beneficiary, holds 24.8% and managing partner Tania MacLeod 2.83%.

Ms Foulston said: “Our decision to seek a listing on AIM is an exciting step in the development of Rosenblatt. The funding will support the growth of the firm, building on our position as one of the top three dispute resolution firms in the capital and allow us to take advantage of the disruption in the UK legal marketplace.”

She said there has already been “strong interest” from investors: “We are focused on improving margins and profitability, compared to traditional legal partnerships run by lawyers, which concentrate on revenue and often lack commercial expertise.

“Importantly, the listing will allow us to better align remuneration for employees with the overall performance of the firm. By being able to offer a broader range of equity participation, it will help us to attract and retain talent at all levels.”

Brook Land is to be the independent non-executive chairman of the listed company, joined on the board by Ms Foulson, finance director Patrick Firebrace and independent director Stephen Davidson.

In recent months, Rosenblatt has launched an India practice, headed by Ajit Mishra – who joined from Pennington Manches – strengthened its ties in China, particularly with leading local law firm DeHeng, and acted for Richard Desmond’s Northern & Shell group on the £127m sale of its newspaper and magazine publishing business to Trinity Mirror.




Leave a Comment

By clicking Submit you consent to Legal Futures storing your personal data and confirm you have read our Privacy Policy and section 5 of our Terms & Conditions which deals with user-generated content. All comments will be moderated before posting.

Required fields are marked *
Email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Reports

Our latest special report, produced in association with Temple Legal Protection, looks at the role of after-the-event (ATE) insurance in commercial litigation post-LASPO. We are at a time when insurers, solicitors, clients and litigation funders work ever more closely to create funding packages that work for all of them, with conditional fee and even damages-based agreements now part of many law firms’ armoury.

Blog

21 November 2019

Analysing the October PII renewal

Our clients that renewed during this period recorded an average fee increase of 7.5%. The partner size segment that experienced the largest growth in percentage terms was 11-25 partners, at 11.3%.

Read More

Loading animation