Market monitor

Slater & Gordon (S&G) is paying around £23m for its triple law firm acquisition, with more deals likely over the next 18 months, it has emerged. It said successful integration of the three will make a “significant contribution to the financial performance of S&G’s UK operations”.

Slater & Gordon has today made its move to become a dominant player in the consumer legal market – and particularly personal injury (PI) – by announcing deals to acquire national firm Simpson Millar, Liverpool-based Goodmans Law and the PI practice of Cambridge’s Taylor Vinters.

The massive acquisition programme of alternative business structure Quindell Portfolio plc – including three law firms – resulted in a 900% increase in turnover and profit in 2012, the company’s preliminary annual results have shown.

Alternative business structure MTA Solicitors is continuing its move to diversify and expand its business beyond personal injury after acquiring volume property practice Solex Legal Services, Legal Futures can reveal.

There will be an “enormous amount” of external investment and merger activity in the legal market over the next 24 months, a leading investment banker has predicted. He said investment had only been held back by uncertainty in the volume market.

Family lawyers offering unbundled legal services should be wary of charging clients on an hourly basis, the Law Society has warned. It said “this could increase the risk of the retainer being more broadly interpreted”.

Stobart Barristers – the direct access service run by the famous logistics company – has given a strong indication that it will bid for the new criminal legal aid contracts the government is set to offer under price competitive tendering.

New legal brand Dynamo Legal is set to receive a major publicity boost next week when its founder appears on The Apprentice in a bid to win Lord Sugar’s £250,000 investment for the business. Alex Mills is looking to recruit 245 firms to the network.

A claims management company specialising in interest-rate swap mis-selling could become an alternative business structure in order to litigate its own cases. All Square Treasury has just announced the appointment of a legal director.

A barrister who has built a thriving direct access practice through a public-facing website is considering whether an alternative business structure will help him deal with the problems caused by the ban on conducting litigation.

Corporate services provider Jordans has turned to the head of legal at a leading business process outsourcer to spearhead its planned alternative business structure. Debbie Farman, formerly legal director of Vertex, will lead a team of lawyers, paralegals and corporate compliance experts.

A legal advice charity in Leicester has become the first not-for-profit organisation to set up an alternative business structure (ABS), Legal Futures can reveal. The Community Advice and Law Service has won approval to launch Castle Park Solicitors Community Interest Company.

A law firm offering ‘click and collect’ legal services plans to double in size after securing its alternative business structure licence. Leeds firm Winston Solicitors originated as an online-only legal practice from managing partner Jonathan Winston’s spare room 10 years ago.

A new collective marketing brand called Dynamo Legal has today announced plans to recruit 245 law firms across England and Wales and build a £7m advertising warchest. It is the brainchild of Welsh businessman Alexander Mills, who previously founded a company selling slate signs.

Co-operative Legal Services has today made its major move into family law services by unveiling a telephone advice service for those people still able to claim legal aid help and a network of 78 face-to-face locations across England and Wales.