Alternative business structures

A Swiss law firm that specialises in arbitration work has received an alternative business structure licence to open up in London.

Knights Group – the Staffordshire-based law firm that listed in June – has secured bank funding to support its strategy to complete at least three acquisitions by April 2020.

Riverview Law is set for a huge global expansion over the next five years once EY completes its acquisition, the partner who is to head the new business has said.

Setfords – the consultant-led law firm with private equity backing – has secured its first-ever merger as it targets firms to speed up growth.

LegalZoom, the US-based online legal services provider that owns an ABS, has received a $500m investment – believed to be the largest ever in the legal world.

The State Bar of California has been urged to take the lead in the US in allowing non-lawyers to invest in and own law firms. It has agreed to set up a task force to investigate.

Fast-growing alternative business structure Progeny Group has acquired its third wealth management firm in little more than a year, also launched a wide-ranging legal subscription service.

The Chartered Institute of Legal Executives is set to become the sixth body allowed to license alternative business structures after its application was approved by the Lord Chancellor.

The UK’s first listed law firm, Gateley, has made another non-legal acquisition by buying a “human capital” consultancy for what could reach £3m.

Gordon Dadds Group, the law firm acquisition vehicle, has unveiled strong results for its first year as a listed company and announced its first international expansion, into Hong Kong.

Regional law firm Knights has raised £50m from its initial public offering, valuing the company at £103.5m when it starts trading on AIM on Friday.

Deloitte has been awarded its alternative business structure licence, some five months after announcing that it was to become the last of the Big Four accountancy firms to offer reserved legal activities.

A former hedge fund boss who wants a better service for those needing family law services is backing a multi-disciplinary law firm aimed at high net-worth individuals and family offices.

A group bringing together credit hire and legal services is to list on the stock exchange this week. Anexo Group has recently obtained an ABS licence.

Top-25 practice DWF is considering whether to become by far the largest law firm to list on the London Stock Exchange, it emerged today. The move would galvanise interest in law firms going public.