Debt manager MoneyPlus acquires law firm
DEBT management firm MoneyPlus Group has acquired Sale-based Richardson Mail Solicitors.
The firm specialises in dispute resolution, debt recovery advice and wills and probate. It also advises landlords and tenants on rental agreements.
It is the seventh acquisition for Manchester-based MoneyPlus which is backed by Palatine Private Equity. It said the deal would strengthen its insurance and legal services.
It has also been authorised by the Solicitors Regulation Authority which has granted it an alternative business structure (ABS) licence, allowing it to advise on legal issues.
Chief executive Chris Davis said: “I am delighted that permission had been granted by the SRA. By virtue of our move into the legal services market we have embraced exactly the intention of the Legal Services Act.
“We have an ever-increasing consumer base, and this development will enable the company to service the various legal needs of those consumers and provide greater access to justice for them. I am particularly delighted that we are the first company in our sector to appreciate this potential. We now have the ability to advise consumers on a whole range of legal issues.”
Legal advice for the transaction was provided by Frank Shephard, Lucy Shenton and Lisa Stavropoulos at DWF as well as Ed Foulkes at Clarke Willmott. Commercial and financial due diligence was carried out by Jodi Birkett and Paul Leather at Deloitte.
