Law firm set for expansion with £17m funding deal
Law firm Weightmans is set to expand after landing a £17m funding package from Lloyds Bank Commercial Banking.
The firm, which has an office in Leicester, says it will use the funding to invest in recruitment and its office network.
Weightmans employs 1,200 people across its offices in Liverpool, London, Manchester, Birmingham, Glasgow, Leeds and Leicester. In May 2018, the firm announced a record revenue of £97.1m, up three per cent on the previous year – its first annual financial results since the introduction of its new structure and strategy in May 2017.
Over the last financial year, Weightmans has invested heavily in its offices, technology and people, consolidating three offices in the South East and two in Manchester into new London and Manchester bases respectively.
In July, the firm also completed a full refurbishment of its office in Birmingham city centre, which included implementing a new technology system and agile working scheme for staff.
Bob Granger, group finance director at Weightmans, said: “Following the successful move to a new strategy and firm-wide structure, we are continuing to see some fantastic growth opportunities.
“Investing in new technology, our office network and staff development, remain central to our approach to delivering excellent client service. The team at Lloyds Bank took the time to get to know our business and they were able to arrange a funding package that is tailored to helping us meet these objectives.”
Paul Stanley, relationship director at Lloyds Bank Commercial Banking, said: “As the recent investment in the office network shows, Weightmans is an ambitious firm that is looking to grow its market share across the UK.
“By working closely with the management team we’ve been able to arrange a tailored funding package that supports the firms’ ambitions, and will help them to successfully implement their strategic growth plans throughout 2018 and beyond.”