The new legal business set up by the former head of Quindell Legal Services is poised to start its acquisition programme after being authorised as an alternative business structure (ABS) by the Solicitors Regulation Authority.
Pure Legal, the brainchild of Phil Hodgkinson, began life in April 2015 with a costs consultancy and more recently a claims business, but is to expand rapidly, with plans revealed in June to buy two law firms and two other businesses.
If they all complete, it will create a firm of 300 people with a turnover of £30m. It should formally receive the ABS licence shortly.
The business’s strategy is to “take the greed out of the market” by going head to head with claims management companies and other work providers in personal injury and other areas of law.
Mr Hodgkinson said: “This is a significant step forward in the development of Pure Legal and the Pure Group. We will now be able to proceed and formalise our ABS structure and business model prior to launch early in the New Year.
“We will also be able to progress to completion a number of joint ventures and long-term contracts which we have secured pending receipt of our ABS licence, which will take the business to the next level, and also progress our plan of Pure being a strategically acquisitive business, in order to take advantage of opportunities we believe exist in the market today.”
“We have developed and constructed a five-year business plan, which, once executed, will not only bring about significant positive changes in many areas of our industry, but also make Pure a very prominent and significant player in the legal market…
“Our ethos at Pure is to put our clients first, be that partner law firms or individual claimants. We believe that in law, quality and customer service are the future.”
Speaking at last week’s PI Futures event, Mr Hodgkinson said he made the wrong choice when selling his previous costs business – Compass Costs – to Quindell.