On Monday, Legal Week reported that Australian national firm Slater & Gordon, the world’s first publicly traded law firm, made its first overseas move by announcing that it aims to acquire UK personal injury firm Russell Jones & Walker (RJW) for £53.8 million. This is the second highly novel transaction in the UK in as many weeks — last week we discussed Quindell Portfolio’s acquisition of Silverbeck Rymer, the first acquisition of a UK law firm by a listed company under the new Legal Services Act.
The acquisition of RJW, with approximately 425 staff across 10 locations in the UK, is the largest by Slater & Gordon to date. S&G has acquired “no fewer than 20” practices since the firm broke new ground by going public in 2007. The firm has grown to more than 1,000 staff located in more than 50 locations throughout Australia. The RJW deal is expected to be completed in early April subject to regulatory approval.
According to a statement by Slater & Gordon’s managing director Andrew Grech, the firm studied over 30 law firms in the UK before setting its sights on RJW, observing that “the firm has a management team that can see the opportunities that lie ahead in the UK market.” He added:
We will be among the first to take advantage of a number of significant changes which are occurring in the legal profession in the UK. Both Slater & Gordon and our new colleagues at RJW believe that the changes present an enormous opportunity for those who are prepared. Our experience as a listed public company gives us a head start on other law firms in the UK.
Posted by Marianne Purzycki
Emily Fisher
Marianne Purzycki
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Tricia Pelton
