Wed, 22 Jan 2014 | ADMINISTRATION
Leonard Curtis has succeeded in securing buyers for the four parts of Barnetts Solicitors immediately on entering administration.
The north-west based firm appointed administrators yesterday (21 January), and swiftly completed the sale of Barnetts’ business to four buyers the same day. The deal means that all 130 jobs are retained and the 3,000 existing clients kept on.
Its conveyancing business was taken over by DC Law, and the personal injury and litigation sector was bought by SGI Legal. Simpson Millar snapped up the care home division, while the interest rate swap aspect was purchased by Seneca Banking Consultants.
Senior partner Richard Barnett said the sale represented a 'fantastic opportunity for the firm to be able to move forward to the next level'.
"The structure of the business had disparate parts, and it was therefore unlikely that we could ever have achieved one buyer for the whole," he explained.
This marks SGI Legals’ second acquisition in six months, after it bought Challinor’s work in progress in August last year. It intends to make further acquisitions in the next six months as changes made in the personal injury line last year impacts businesses in the market.
SGI Legal’s managing partner Simon Gibson said: "We’ve made no secret of our growth ambitions and have structured our firm to take advantage of developments in the personal injury sector.
"We will continue to provide positive solutions for those wishing to exit the personal injury sector whilst maximising the opportunities for SGI."
__________________________________________________________________________
Related information:
Business Finance
An exciting opportunity to acquire the business and assets of a well established tech-enabled product and service business that assists employers in preventing workplace incidents, specifically but not limited to oil and gas, manufacturing and emerg...
This is an opportunity to acquire a highly specialised AI-enhanced medical-writing business. The business has developed an AI-powered platform designed specifically for medical writers to reduce operational tasks and manual perusal of data. The...
Project Richmond provides complete, software-led warehouse management solutions and projects that aim to automate various processes, ultimately improving clients’ operational accuracy and efficiency and reducing expenditure.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.