Irwin Mitchell acquires HL Interactive
ASCENT, a Manchester debt collection business owned by law firm Irwin Mitchell, has bought a former Halliwells division called HL Interactive.
The business, which handles debt recovery for banks and other lenders, has 62 staff based at City Tower in Manchester.
It spun out of Halliwells following a management buyout led by chief executive Matt Wightman in 2009. He is staying with the business and will join Ascent’s senior management team. The value of the deal was not disclosed.
Irwin Mitchell said the business would help it establish Ascent as a market leader among law firms operating in this sector, particularly with regard to work with secured lenders.
It is the fourth deal for Ascent and fifth for Irwin Mitchell since it gained alternative business structure (ABS) status in 2012.
The Legal Services Act introduced the idea of the ABS which lets law firms change their ownership arrangements away from share-holding partnerships to structures similar to non-law businesses. It also enables them to take backing from external investors.
Irwin Mitchell’s group chief executive John Pickering said: “This deal once again highlights our determination to take advantage of opportunities which arise which we deem to be right for our business. This is an important addition to our debt legal services business which will further strengthen our position in this important market for us.”
Mark Higgins, chairman of Ascent, said: “HL interactive shares our focus on ensuring we deliver the very best service to all of our clients and together, we will have a very strong offering indeed to help us achieve our aim of being the leading provider in this sector.”
