Mon, 13 Nov 2023 | BUSINESS SALE
East Midlands-based Lawfront firm Nelsons has completed its second acquisition in the space of a few weeks with a deal for Nottingham-headquartered Cleggs Solicitors. The deal follows Nelsons’ acquisition of Pattersons Commercial Law in October.
Cleggs Solicitors was founded in 1969 and manages personal and business matters for clients across the UK and overseas. Post-acquisition, Cleggs clients with current matters will be notified, while archived files, wills or deeds will transfer to Nelsons.
The sale to Nelsons follows Cleggs’ Managing Director and Head of Private Client Mark Williams becoming the firm’s sole equity partner. Williams said that he was seeking to " maintain the growth and future of our talented team as well as continuing to offer more to our loyal client base”, adding that “there was an immediate sharing of values” with the Nelsons team.
Williams continued: "This move supports the exciting ambitions of both firms and many of our clients will instantly benefit from the expertise and range of services that Nelsons can deliver, with our team also benefiting from the greater resources that Nelsons as a Lawfront firm can provide."
Calling Cleggs “a well-known and respected firm in Nottingham for decades”, Nelsons Chairman Tim Hastings commented: "This acquisition will expand our services to clients with Mark's team bringing substantial commercial and new-build residential property experience. At the same time, we can offer Cleggs' clients a full range of services from our employment and corporate teams that previously the team would have needed to refer elsewhere.”
"I'm looking forward to maximising our combined potential as we come together to pool expertise and resources."
Lawfront Chief Executive Neil Lloyd said that the acquisition, alongside the October takeover of Pattersons Commercial Law, “demonstrate Lawfront's strategy of backing the management of leading regional law firms, supporting them to achieve their own growth ambitions, both organically and by acquisition."
Find out what's driving growing M&A activity in the UK legal sector
Buckinghamshire IFA with £125m FUM and an average portfolio size per household just below £450k, you will be servicing highly profitable clients.
With an office, advisers and back-office staff in place, this business can continue running profitably post-sale.
Greater Manchester IFA with £52 million FUM at .05% ongoing charge, there is potential for future uplift.
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