Revenues increase by 40% at law firm following acquisition

A long-established Manchester law firm saw like-for-like revenue growth of 40% after being purchased by a consortium of investors in December.

Six months on from its acquisition by international professional services group ETL Global, alongside former Kuits partners David Jones and David Marlor, Glaisyers Solicitors is on course to record full-year turnover of £6 million.

This represents an increase of £1.7 million on the £4.3 million it achieved last year.

The firm, which operates out of St James’s Square in Manchester city centre and has recently opened an office in London’s Marylebone district, is also on course to outperform its recruitment targets.

At the time of the acquisition the firm set an objective of taking on 18 new staff during the calendar year 2019, an increase of 25 per cent.

Glaisyers has, as of July 2019, already made 12 appointments, with others at a late stage in the recruitment process.

This means, half-way through the year, the firm has already met two-thirds of its initial recruitment target.

One of the most recent recruits is Daniel Fitzgerald, who has joined the firm’s commercial litigation team as Partner.

He specialises in banking and lending disputes and joins from the Manchester firm DWF.

For more than a decade Mr Fitzgerald has dealt with recoveries under loan and guarantee agreements as well as the appointment and conduct of LPA (Law of Property Act) receivers. He also carries out negligence actions against professional advisers.

The firm is recruiting in all areas but is at present particularly focused on adding capacity to its successful commercial property department.

This growing team, which is led by Equity Partner David Marlor, has vacancies for solicitors at all levels.

Glaisyers has also this year taken the decision to restart its formal training contract process. As a result it has recruited a number of graduates who intend to qualify as solicitors with the firm.

Following its acquisition the firm has embarked on a review of its suppliers and processes.

It replaced its existing marketing suppliers earlier this year, appointing Manchester-based Strawberry Forge to handle digital marketing and Bury-headquartered Alpha Public Relations to strengthen its media profile.

It is also in the process of implementing a new practice and case management system, provided by ALB. A new website is currently under construction.

David Jones, Equity Partner, said: “Since investing in Glaisyers alongside ETL last year David Marlor and I have been so impressed with everyone’s effort and professionalism. We had high hopes and I can honestly say that the team have exceeded them.

“It has also been hugely positive to become part of ETL Global, and we have already swapped work with our partner firms in Spain, Germany, the Netherlands, London and Bolton. We have helped ETL to buy two accountancy practices, and have instructions to act for them on three more acquisitions.

“All of this is paying off in terms of a superb financial performance. Glaisyers is now as strong as it has been since the crash of 2008, and we are on a great footing as we pursue our aim to become the UK’s go-to firm for owner-managed businesses and their shareholders.”

Glaisyers Solicitors has been established in Manchester for more than 40 years. It was acquired last year in a management buy-in backed by the international professional services group ETL Global.