Antony Hodari buys Preston firm in pre-pack
PERSONAL injury law firm Antony Hodari has acquired Preston-based Ashton Fox in a pre-pack deal.
It will involve the transfer of 8,000 cases which mainly concern mortgage mis-selling and right to buy, where tenants of council housing can buy their homes.
Antony Hodari said the deal would allow it to diversify its business as new rules come in that will hit the personal injury market.
From April claimants, instead of defendants, will have to cover up to 25% of lawyers’ fees from their compensation in personal injury cases. These changes were blamed for the collapse of Manchester-based Calibre Solicitors last month.
According to a statement, an earlier deal to sell Ashton Fox, which was owned by Paul Stott, fell through. Antony Hodari stepped in last Tuesday and completed the deal after administrators from Leonard Curtis had been appointed. Ashton Fox’s 24 staff have been transferred.
The deal follows Antony Hodari’s acquisition of Liverpool personal injury specialist Paul Rooney Partnership last year.
Chief executive Mark Grover said: “We saw the writing on the wall for claimant personal injury law firms five years ago and instigated a major modernisation programme so we could be assured of a strong future. As a result, we operate a lean and efficient business and are well placed to act swiftly and decisively when new opportunities arise.
“We will be looking to make further acquisitions in the coming months. Ashton Fox has a very healthy work in progress in the areas of mis-sold and right to buy mortgages, so this represents a sensible diversification for the Antony Hodari business as we gear up for the post-Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) world.”
James Sheridan, head of corporate at Turner Parkinson, advised Antony Hodari. Leonard Curtis and law firm Gatelely represented the interests of Ashton Fox.
Antony Hodari now has offices in Manchester, Liverpool and Preston and employs 175 staff. The group is owned by founder Antony Hodari.
