Alternative business structures


Metamorph heads south with deal securing trio of offices

17 March 2017

The expansion of consolidator Metamorph Law has continued after it took on the private client practice of a firm in Hampshire, its first venture in the south of England. Some 17 fee-earners and six support staff have set up new offices in Southampton, Lymington and Basingstoke.


National Accident Helpline eyes ABS joint ventures in response to PI reforms

14 March 2017

National Accident Helpline is set to invest in personal injury cases for the first time through alternative business structures, it revealed today. It said the government’s PI reforms would catch “less than” 30% of the enquiries it generated for firms but still meant major changes were needed.


ABS hopes to build up consumer brand covering 14 types of claim

10 March 2017

A high street law firm has obtained an alternative business structure licence as part of a strategy to build up its Refund You website-based consumer brand, which covers 14 areas of claims, from personal injury and financial mis-selling to timeshares and cavity wall insulation.


Consolidator Metamorph makes niche property firm its latest deal

3 March 2017

Alternative business structure and consolidator Metamorph Law has completed its second deal by taking over niche practice SLC Solicitors. SLC, based in Shrewsbury, is an award-winning 50-person firm that acts for commercial and residential landlords and managing agents.


ABS-hungry NewLaw eyes more joint ventures

28 February 2017

Pioneering law firm NewLaw is set to create more alternative business structure (ABS) joint ventures this year, it has emerged. The firm – which was itself just the fourth ABS to be licensed – already has seven joint ventures, with partners including the British Medical Association, the Royal College of Nursing and insurer Ageas.


Private equity takes next step in the law with acquisition of leading family practice

23 February 2017

Stowe Family Law – which claims to be the largest specialist family law firm in the country – has become the latest legal practice to accept private equity investment after signing a deal with mid-market backer Livingbridge. The plan is to build a “larger national footprint”, opening up to 30 additional offices over the next five years – it currently has 10.


Burford and Gateley beat the market but most legal stocks underperformed in 2016

6 February 2017

Most listed UK businesses with a strong legal element did not prove good investments in 2016, although litigation finance business Burford Capital and national law firm Gateley both bucked the trend in eye-catching fashion, a Legal Futures analysis has found.


Growth of alternative providers – especially Big 4 – could push law firms into ‘contractor’ role

1 February 2017

Large law firms should consider becoming “general contractors” to manage their clients’ disaggregated legal needs amidst growing demand from in-house lawyers to use alternative legal services providers – with the Big Four accountants a threat “that cannot be overstated” – a new report has suggested.


Dishonest ABS owner who ignored costs ruling is struck off

1 February 2017

A solicitor who lied to clients and ignored a High Court costs ruling has been struck off by the Solicitors Disciplinary Tribunal and ordered to pay costs of nearly £100,000. His ABS was the first to be closed by the SRA on the grounds of a manager’s suspected dishonesty.


Give advice not options, ABS chief tells lawyers

1 February 2017

Lawyers must be prepared to give their clients advice rather than a range of options, the managing director of a fast-growing wealth management and legal services firm has said. The Progeny Group has doubled in size in the past year to 70 staff, including 15 lawyers, and aims to grow just as quickly this year.


Pioneering ABS sold to major firm in pre-pack deal

25 January 2017

Pioneering alternative business structure Triton Global has been acquired by national law firm DWF in a pre-pack administration deal that saves all 215 jobs. Triton is a multi-disciplinary insurance business combining legal advice, claims administration and loss adjusting that became one of the first ABSs to introduce employee ownership.


Top 10 accountancy firm joins the ABS gang

17 January 2017

RSM has become the largest firm of accountants outside of the Big Four to launch a legal practice with an alternative business structure licence. The UK’s seventh largest provider of audit, tax and consulting services – which has revenues approaching £300m a year – will target mid-tier and owner-managed businesses with RSM Legal.


Brexit no brake on activity, says growth fund after second law firm investment

21 December 2016

The first private equity fund to invest in a high street law firm that has now put money into a ‘dispersed’ law firm has said it is “business as usual” despite Brexit and it would welcome further approaches from solicitors.


‘Dispersed’ law firm scoops external capital from top SME investor

19 December 2016

National law firm Setfords Solicitors has become the latest to take external investment after securing a £3.75m injection from the Business Growth Fund (BGF) to support its expansion plans. It has taken a minority stake, the second time it has done so with a law firm after putting £5m into McMillan Williams in early 2015.


Internationalist ABS sets sights on Middle East alliance

16 December 2016

A boutique commercial firm with strong links to south-east Asia has become an alternative business structure as part of its growth plans, which include forming an alliance with several Middle East law firms.

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