Redkite deal: Helen Downes and Neil Walker
Private equity-backed Canford Law has made it second major acquisition in a fortnight, with the deals doubling its size nationally to nearly 300 people.
It has acquired Lemonaid Motor Legal, a provider of white-label first notification of loss and claims management services to motor insurance brokers, following the deal last month [1] for property services business PDC Group.
Rotherham-based Lemonaid adds 72 people to the group and, with PDC’s 78 staff, Canford now has a headcount of 290.
Canford is best known for its credit hire work but also handles commercial litigation and housing disrepair claims. It sold a majority stake to Queen’s Park Equity (QPE) in January, a deal founder David Nash told Legal Futures [2] would supercharge its growth.
Lemonaid – which will continue to operate under its existing brand and management, including managing director Luke Baker – triages claims and works with a panel of specialist service providers across credit hire, vehicle repairs, recovery and storage, salvage and personal injury.
It secures Canford “a proprietary pipeline of credit hire litigation and introduces a base of broker relationships, offering the opportunity to extend Canford’s legal services to a wider insurance client base and into adjacent verticals,” a statement said.
Mr Nash said: “Luke and his team have built an excellent business with strong broker relationships and an impressive reputation for service.
“Lemonaid also brings expertise at the beginning of the motor claims journey, complementing the legal and litigation capabilities already present within Canford Group. This gives us an opportunity to provide a more connected service throughout the lifecycle of a claim and creates an exciting new dimension for the group.”
Mr Baker said: “Canford Group’s expertise will allow us to remain closer to the complete client journey, from the initial accident through to legal representation and the recovery of our clients’ losses.
“That is an important step forward for Lemonaid, our team and, most importantly, our clients and partners.”
Alex McRae, investor at QPE – and a speaker at our Claims Futures conference [3] next month – added: “Lemonaid is our second acquisition for Canford Group in quick succession, and a clear demonstration of the pace at which the platform is building…
“It’s another great example of the value-accretive bolt-ons we set out to deliver when we partnered with David Nash and his team at Canford, and we look forward to supporting Luke and the wider Lemonaid team through the next phase of growth together.”
In other M&A news, Bolton-headquartered Russell & Russell Solicitors has strengthened its Greater Manchester presence and expanded into Yorkshire with the acquisition of 21-person Wrigley Claydon, an Oldham firm founded in 1795 that also has an office in Todmorden.
The enlarged firm now has 10 offices across Chester, Greater Manchester and Yorkshire, and around 215 partners and staff.
Managing partner Jane Penman: “The acquisition will enable us to accelerate growth whilst continuing to deliver the highest standards of service to our clients and expand career opportunities for our people.”
Redkite Solicitors, which has around 300 staff in 19 offices across Wales and the South-West, has acquired CLA Trust & Legacy Planning, a small Cardiff-based private client firm. This is its second acquisition in a matter of months after the addition of Penarth-based Alan Simons & Co [4].
The deals gives Redkite expertise in trusts, estates and succession planning, “further deepening the firm’s expertise in wealth management and succession planning services”, according to a statement. CLA director Helen Downes joins as head of private wealth and succession planning.
Redkite chief executive Neil Walker said: “Trust and legacy planning is an area where we’ve increasingly seen demand from our private clients, and until now we’ve not had the capacity to manage all that work within the firm.”
Banner Jones has strengthened its presence in Mansfield by acquiring two-partner Harrop White, Vallance & Dawson, whose staff will move into Banner Jones’s new offices in the town next month.
Matthew Maiden, executive director and senior solicitor at Banner Jones’ Mansfield office, said: “Our imminent move to larger premises gives us the space to grow. We are continuing to recruit and this is another important step forward.
“Equally, we know that the relationships Harrop White, Vallance & Dawson has built over generations matter to them and their clients. We want to preserve those relationships while giving clients access to everything that comes with being part of a larger firm.”
Charles Dawson, senior partner at Harrop White, added: “When a firm has been part of a town for nearly 150 years, you feel a real responsibility for what comes next.
“We wanted to find a firm that would value what we have built, look after our clients and provide a positive future for our colleagues. Banner Jones gives us that.”
Banner Jones has been in Mansfield since its merger with Bilton Hammond in 2013. It also has offices in Sheffield, Chesterfield and Dronfield.
Finally, Lightfoots Solicitors has boosted its office in Thame by acquiring Rachel Stafford Legal Services. Ms Stafford, who set up the firm in 2015, is retiring and her colleague Carol Barnes has joined Lightfoots’ wills and probate team.
Joe Middleton, managing partner at Lightfoots, said: “Rachel built her business the way this firm was built, on people telling their neighbours they were well looked after. She could have sold to anyone. That Rachel wanted her clients to stay in Thame, with a firm that will still be here for their children, says a great deal about her character and we intend to live up to it.”