Australia's publicly traded Slater & Gordon raising $64M to buy more UK personal injury firms
In its continuing drive to dominate the global personal injury and consumer legal market, Slater & Gordon is raising $63.9 million to expand its British personal injury practice.
The plaintiff megafirm has struck deals to buy three United Kingdom law firms at a total cost of about $35 million, according to the Australian (sub. req.) and Legal Week.
They are: Goodmans Law, which will give the firm its first office in Liverpool; Simpson Millar, which has 10 offices and trade union expertise; and the personal injury arm of Taylor Vinters. The unit, based in Cambridge, focuses on major disasters.
Slater & Gordon expects those deals to close by the end of 2013, and says it is looking to buy additional firms before the end of 2014.
“A number of options have been investigated in the U.K., and the three potential acquisitions now identified will deliver a number of strategic benefits, including an expanded geographic base and specialized practice areas,” said managing director Andrew Grech of Slater & Gordon in a statement provided to Legal Week.
“The capital raising provides us with the financial flexibility to pursue the broad spectrum of growth opportunities in the UK. Twelve months on from entering the UK, the timing is now optimal to accelerate our growth plans in line with our strategy to become a dominant law firm brand in consumer legal services in the U.K.”
The Lawyer and the Wall Street Journal’s MoneyBeat blog have stories as well.
ABAJournal.com: “UK Consumers Could Buy Legal Services With Bread, Milk and Eggs as Soon as January, Under New Law”
ABAJournal.com: “Australia’s Slater & Gordon Snaps Up UK Personal Injury Firm, Russell Jones & Walker, for $84M”