Express Solicitors seals £3.5m funding for growth
FAST-growing ‘no win, no fee’ personal injury law firm Express Solicitors
has agreed a £3.5m funding deal to boost its growth prospects.
The Northenden-based firm will use to finance provided by RBS Corporate to hire 40 new staff, including 20 fee earner s, over the next year.
Express, which reported record fee income performance of £4.1m in 2011, wants to double the number of cases it handles over the next three years and hit £10m turnover within three to four years.
The firm will also add to its management team, support team and new client team, taking the total number of employees at Express Solicitors from 80 to 120.
As part of its expansion plans, it has already promoted partner Daniel Slade to equity partner alongside managing partner James Maxey and senior partner Robin Patey.
Express plans to allocate £1m of the funding to new property and £1.5m to marketing.
Senior partner Robin Patey said: “The decision to make this multi-million pound investment follows changes in law firm ownership rules that will inevitably lead to the consolidation of smaller firms.
“However, with strong year-on-year growth since the firm was launched and an outstanding 2011, despite the economic downturn, we decided to expand the firm rather than consolidate.
“There will be significant job creation right across the board and we have already started an aggressive recruitment campaign as we seek to find the right people to help us grow. Our key asset is our staff, including a strong management team and expert lawyers who are committed to achieving excellent results for clients.”
The funding package was provided by business development director Kate Grimoldby and senior relationship manager at RBS Corporate Manchester Steve Taylor.
Mr Taylor commented: “The partners have worked hard to establish and grow the firm in a competitive market and we look forward to working with them in the future.”
Express Solicitors specialises in personal injury and accident claims, medical and clinical negligence claims and serious injury claims.
